Business climate in Germany improves more than expected in June 2017, conquering a new records. The Ifo report shows that momentum of the German economy remains strong at the end of the first half of the year. The Business Attitude Index grew from 114.6 points in May to 115.1 points in June, beating the expectations for a slight drop to 114.4 points.
The sub-measure for the current situation assessment increased from 123.3 points in May to 124.1 points in June, against the estimates the value to remain unchanged.
The Business Attitude Index for the next six months rose from 106.5 points to 106.8 points in June.
The Ifo survey is conducted among about 7,000 German companies in the fields of industry, construction, wholesale and retail.
As far as the individual sectors are concerned, an improvement in attitudes is reported in the processing industry. In the wholesale trade for the third consecutive month there was an increase in the index, while the retail sales reported a significant improvement in attitudes. In the construction sector, the index is down but remains at a relatively high level.