German business’s morale strong increase! According to Munich based IFO economic research institute, in March 17, business confidence in Germany reached a record high for six years. This was greater than forecasted and it proposes that business executives in Europe’s largest economy are no longer fazed by previous concerns with regards to the threat of increasing protectionism and problems regarding the elections. This strongly contributes to the forecasts of the booming German economy for 2017 which was increased by growth in customer spending and demand in manufacturing.
According to the IFO report, the business climate index rose to 112.3 from the previous readings of 111.1 in February. IFO economist Klaus Wohlrabe, stated that the political uncertainties do not pose negative effects to the German economy and that manufacturers in the majority of the key segments were feeling more optimistic and positive about their business outlook.