German Business Sentiment Jumps Unexpectedly in February
February 22 2017 - 4:30AM
Dow Jones News
By Nina Adam
FRANKFURT--German business sentiment picked up markedly in
February, as companies' raised their outlook for the next six
months.
The Ifo institute said Wednesday that its widely watched
business climate index rose to 111.0 points from 109.9 points in
January. Economists polled by The Wall Street Journal had forecast
a slight decline to 109.5 points.
"Germany's economy is back on track, after making a cautious
start to the year," said Ifo President Clemens Fuest, commenting on
the think tank's monthly survey of around 7,000 companies.
Companies' assessment of their current situation hit the highest
level since August 2011, the Ifo institute added.
Europe's largest economy picked up speed in the fourth quarter
of 2016 and is expected to grow solidly in the first few months of
2017.
However, many economists caution that heightened uncertainties
about future trade relations with the U.K. and the U.S. and the
risk of rising anti European Union-sentiment ahead of key elections
in Germany, France and the Netherlands could weigh on economic
activity later in they year.
Write to Nina Adam at nina.adam@wsj.com
(END) Dow Jones Newswires
February 22, 2017 05:15 ET (10:15 GMT)
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