Business climate expectations turn upward in Germany
The business climate of manufacturing, construction, retailing and wholesaling in West Germany deteriorated in December for the seventh consecutive time. However, on the bright side, the business climate expectations for the next six months turned upwards for the first time since May last year. The worsening of the current situation in West Germany was mainly due to unfavourable developments in the wholesale and retail industries. The business climate in East Germany improved for the first time since mid last year. However, indications for a turnaround are still not evident. Index figures (west Germany): - Business climate: 87.1 in December compared with 87.3 in November - Current situation: 76.8 compared with 79.0 in November - Business expectations: 97.9 in December compared with 95.8 in November Index figures (east Germany): - Business climate: 97.2 in December compared with 95.0 in November - Current situation: 115.4 compared with 112.7 in November - Business expectations: 80.0 in December compared with 78.3 in November