GERMANY: Ifo Business Climate Index edges upwards

The Ifo Business Climate Index for German industry and trade rose in September to 108.5 from 108.4 points (seasonally revised) last month.
“Companies assessed their current business situation slightly less favourably than in August,” explained Ifo Institute President Hans-Werner Sinn, adding, however, that “they expressed greater optimism about future business developments. The German economy is proving robust.”
In manufacturing, the business climate continued to deteriorate slightly, the Munich-based institute said.
Manufacturers scaled back their very good assessments of the current business situation, but were nevertheless more optimistic about short-term business developments. More companies plan to ramp up production in the months ahead.
The business climate brightened in trade. Wholesalers were more satisfied with their current business situation. Their optimism about the business outlook, by contrast, waned slightly. In retailing, assessments of the current business situation improved clearly for the third month in succession. The outlook for the months ahead also continued to brighten.
In construction, the business climate turned positive for the first time since January 2014. Contractors assessed both their current business situation and their business expectations far more favourably than in August.