THE LATEST report from the highly respected Ifo Institut in Munich found that the Business Climate Index had risen to 104.7 points in November, up by 1.5 points against October. Each of the preceding six months had shown a deterioration of the Index. Manufacturers and wholesalers as well as retailers all reported a more positive assessment of the current business situation and were less pessimistic about future prospects.
Further confirmation is needed before it can be assumed that the German economy has recovered from recent setbacks. But the improved business climate is a step in the right direction.