• Germany edition
 
Hundreds of great job opportunities for foreign professionals at Germany's top employers - in cooperation with Monster, Experteer, Stepstone, and CareerBuilder.
What
Where
3,219
jobs available
Find English-speaking professionals with The Local.
Advertise a vacancy
Business confidence hits 10-month high
Photo: DPA

Business confidence hits 10-month high

Published: 22 Feb 2013 10:58 CET

The Ifo institute's closely watched business climate index for Europe's top economy rose to 107.4 points in February - the highest reading since April 2012 - from 104.3 points a month earlier.

Economists polled by Dow Jones Newswires had been pencilling in a more modest rise to 14.7 points.

"The German economy is regaining momentum," said Ifo president Hans-Werner Sinn.

"Satisfaction with the current business situation continued to grow. Survey participants also expressed greater optimism about their future business perspectives," Sinn said.

Ifo calculates its headline index on the basis of companies' assessments of their current business and the outlook for the next six months.

The sub-index measuring current business rose to 110.2 points in February from 108.1 points in January. And the outlook sub-index four whole points to 104.6 points, its highest reading since July 2011.

Analysts said the renewed surprisingly strong rise in the Ifo index suggests that the dip in the German economy at the end of last year - when falling exports caused gross domestic product to contract by 0.6 percent - will be short-lived.

"The wow effect. Nothing seems to be able to stop German business optimism," said ING Belgium economist Carsten Brzeski.

"The evidence is increasing that the contraction in the fourth quarter has been a one-off which never felt anything near a recession," the expert said.

With the improved outlook for the US and Chinese economies - two of Germany's biggest export markets - "prospects for German exporters are clearing," Brzeski said.

"While most other eurozone countries are moaning under the burdens of reforms, austerity and recession, the German economy continues playing in a league of its own," he said.

But Jennifer McKeown at Capital Economics was more cautious.

"With worries about the periphery continuing and the still high level of the euro casting a shadow over Germany's export prospects, we think that the recovery will be modest and uneven," she warned.

AFP/mry

The Local (news@thelocal.de)


Don't miss...X
Left Right

Your comments about this article:

The comments below have not been moderated in advance and are not produced by The Local unless clearly stated. Readers are responsible for the content of their own comments. Comments that breach our terms and conditions will be removed.

ADD YOUR COMMENT   (YOU MUST LOG IN OR REGISTER TO MAKE A COMMENT)
Your German Career
Germany's Federal Employment Agency has identified the job sectors the country is most short of workers for. JobTalk looks at where the vacancies lie.
Students at German universities have shown themselves to be a risk-free lot in a survey by Ernst & Young. The civil service is their most popular choice of future profession, while job security is valued above all else.
Jenny Core, originally from Bolton, England, shares her tips in this week’s My German Career on being an artist in Berlin. The 27-year-old exhibits her work regularly in the city, including next to a Turner Prize shortlister.
In this week's JobTalk, Tanya Schober, who is originally from India, talks us through her journey to German citizenship.
In this week's My German Career, Anupama Gopalakrishna, who is originally from Bangalore in India, tells The Local about her new life in Frankfurt.
In this week's My German Career, US pastor Jeff Ingram, 54, talks about life in the church and the advantages as well as the downside of Germany's desire for order.
German Employment News
A new YouGov survey shows job seekers in Germany are exasperated with the application process, complaining about poor job adverts and slow responses. Recruiters agree.
What would happen if everyone was suddenly paid €1,000 a month with no strings attached? "Let's try it," says Michael Bohmeyer, who raised the money through crowdfunding and will now experiment with the idea of a basic income for one year.
Germany lags its rivals when it comes to innovation, according to global rankings. But in other measures it leads Europe in technological progress. How innovative is the country really?
Germany's Federal Employment Agency has identified the job sectors the country is most short of workers for. JobTalk looks at where the vacancies lie.
JobTalk this week looks out of the classroom window and up from the translator’s desk at some of the best jobs for expats in Germany.
What holds back talented foreigners in Germany's job market? Recruitment expert Chris Pyak looks at three misconceptions which may be hindering your success when applying for jobs.

Officer - Submission & Bio/Cash
VFS TasHeel International is seeking a Submission & Bio/Cash Officer to manage day-to-day activities of the Visa Application Centre in Frankfurt and Berlin.
FULL JOB AD »

ThyssenKrupp Elevator AG
Essen
Stepstone
Added 07/28/14

Institute for Law and Finance
Frankfurt am Main
Stepstone
Added 07/28/14

Ball Packaging Europe Holding GmbH & Co.KG
Bonn
Stepstone
Added 07/28/14

Harvey Nash GmbH
Frankfurt
Stepstone
Added 07/28/14

Amazon
München
Stepstone
Added 07/28/14

Celesio AG
Stuttgart
Stepstone
Added 07/28/14

Booking.com
Stepstone
Added 07/28/14

Booking.com
Berlin
Stepstone
Added 07/28/14

Bertrandt AG
Köln
Stepstone
Added 07/28/14

Liquid Labs GmbH
Hamburg
Stepstone
Added 07/28/14