27-03-2008
Survey shows rise in German business confidence
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Business confidence across Germany rose unexpectedly over the course of March, a new survey has found.
Data released by the Ifo Institute for Economic Research, as part of its business climate index, shows that confidence levels in Germany have increased, most significantly in the country's manufacturing and construction sectors. In drawing up its findings, a total of 7,000 different companies were questioned by the institute.
"The results indicate that with the beginning of the year the German economy has gained strength," said Hans-Wernet Sinn, president of the Ifo Institute for Economic Research, a member of the CESifo Group. "The outlook for the coming six months has also brightened somewhat."
According to the organisation's index, compared with a reading of 104.1 points last month, this month the index reported an increase to 104.8 despite expectations of a decline in March to 103.4.
This month's increase represents the third consecutive rise in German business confidence.