German Ifo Business Climate higher in February.

Thursday, 23 February 2012 02:51

The German research institute Ifo reported today that country’s business climate index increased more than expected.

Today’s reading showed that index reached 109.6 points from 108.3 points in January, reaching the highest level since July 2011.

Economists forecasted only 0.5 point increase for February.

The Ifo business climate index is based on survey of 7 000 builders, manufacturers and retailers describing condition of their business and further expectations for next half year.