IFO is reporting an improved business climate in Germany; almost back to pre-recessionary levels
German industry seems to be picking up according to the IFO. For January, manufacturing firms report an improved business climate. Via IFO:
The Ifo Business Climate Index for German industry and trade rose further in January. The business climate has thus continued the positive development of the past year. The firms are just as satisfied with their current business as they were in December, and they have given more favourable assessments of their business prospects for the coming half year. The German economy has started the year with great vigour.Right now we are just a few points off from where we were at the end of 2006. That is at least somewhat positive as the trend is upward.
In manufacturing the business climate has clearly improved, having clouded over somewhat in the previous month. The manufacturing firms report an improved business situation and once again have given more favourable appraisals of their business outlook. Especially in exports, the survey participants see much greater opportunities. The firms have further increased the utilisation of their machines and equipment, and now capacity utilisation in manufacturing is above average. They also plan to increase the number of their staff.