• Germany's news in English
 
Hundreds of great job opportunities for foreign professionals at Germany's top employers - in cooperation with Monster, Experteer, Stepstone, and CareerBuilder.
What
Where
3,452
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)


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
What do German bosses need to do to get more out of their staff? Frankfurt-based business consultant Justin Bariso has this advice.
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.
German Employment News
German jobless numbers rose this month, bringing unemployment up to seven percent, the Federal Labour Agency (BA) reported on Thursday.
In our ongoing weekly series, The Local looks into a successful entrepreneur's life - the story behind his successes, major challenges and how being an entrepreneur changed him forever. This week, Sparsh Sharma talks to Malte Zeeck, founder and co-CEO of Munich-based InterNations, a social network for expatriates worldwide.
In our weekly feature series, The Local looks into a successful entrepreneur's life - the story behind their successes, major challenges and how being an entrepreneur changed them forever. This week, Sparsh Sharma talks to Robin Eric Haak, founder and COO of Berlin-based Jobspotting.
The German labour market continued to shine in December, shrugging off current economic weakness, with unemployment now at its lowest level since unification, official data showed on Wednesday.
In our weekly feature series, The Local looks into a successful entrepreneur's life - the story behind their successes, major challenges and how being an entrepreneur changed them forever. This week, Sparsh Sharma talks to Bertram Meyer, one of the four German co-founders of Taulia.
In our weekly feature series, The Local chats with a successful entrepreneur. This week, Sparsh Sharma talks to Simon Schneider, CEO and co-founder of networking tool Zyncd.
autobutler.png

Account Manager
We offer a unique opportunity to make a real impact on autobutler.co.uk
FULL JOB AD »

Essen
Stepstone
Added 01/29/15

Düsseldorf oder Brüssel
Stepstone
Added 01/29/15

Baden-Württemberg
Careerbuilder
Added 01/29/15

Baden-Württemberg
Careerbuilder
Added 01/29/15

North Rhine-Westphalia
Careerbuilder
Added 01/29/15

Bavaria
Careerbuilder
Added 01/29/15

Baden-Württemberg
Careerbuilder
Added 01/29/15