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Business confidence in Germany reaches new highs in November

The index of business confidence in Germany reached new historical highs in November and stood at 117.5 points against the 116.82 reached in October, when it marked another record, reported today the German Economic Research Institute (Ifo).

Frankfurt (Germany), Nov 24 (EFE). - The index of business confidence in Germany reached new historical highs in November and stood at 117.5 points against the 116.82 at which It arrived in October, when it set another record, the German Economic Research Institute (Ifo) reported today.

The rise in the indicator was mainly due to a considerable increase optimism in business expectations, despite the fact that companies valued the situation of their business not as positively as in the previous month, according to the Ifo.

The economy of the The country is continuing its good performance and is expected to grow 0.7 percent in the fourth quarter and 2.3 percent for the whole of 2017.

In the manufacturing sector the index it reached a new record due to the improvement in expectations, although the estimate of the current situation fell slightly with respect to October.

More and more companies are in favor of raise prices, according to the data of the institute.

In the wholesale trade confidence grew equally, standing close to its historical maximum, and companies in the sector they expect their business to improve in the next half year.

The climate of confidence worsened, however, in the retail sector, as well as the estimation of the current situation, although the expectations for the next six months remain optimistic.

In the construction the indicator also fell, while the business estimate and expectations they remain positive although they fell slightly with respect to October.

The business confidence index is based on a monthly survey by the Ifo to about 7,000 companies in the manufacturing, construction and wholesale and retail trade.

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