BERLIN, Dec 19 (Reuters) – German business morale rose more than expected in December as Europe’s largest economy approached the end of the year with an improved outlook despite the energy crisis and high inflation, a survey said on Monday.
The Ifo institute said its business climate index rose to 88.6 from a revised reading of 86.4 in November.
A Reuters poll of analysts had pointed to a December reading of 87.4.
GERMANY Dec 2022 Nov 2022 Dec 2021 BUSINESS CLIMATE 88.6 86.4 94.8 BUSINESS CONDITIONS 94.4 93.2 97.0 BUSINESS EXPECTATIONS 83.2 80.2 92.7
NOTE – The headline business climate index compared with the Reuters consensus forecast for a reading of 87.4.
COMPONENTS Dec 2022 Nov 2022 Dec 2021 MANUFACTURING -5.6 -11.5 17.0 SERVICES -1.2 -5.3 4.9 TRADE -20.0 -26.9 -3.9 CONSTRUCTION -22.2 -21.5 6.3
(Values given are seasonally adjusted balances)
(Reporting by Berlin newsroom)
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