The East German economy looks more optimistic about the future.
The business climate brightened in July compared to the previous month, as the IFO Institute in Dresden announced. The current situation was evaluated somewhat worse by the companies surveyed. However, expectations of future business have improved.
Retail and service providers with poorer businesses
In the retail trade, on the other hand, there was a clear cooling, as it was said. The business in July was rated significantly worse and the outlook was also rather negative. In the wholesaler, on the other hand, current situation and expectations were more positive.
According to the institute, the mood in the service sector was also somewhat downward – the current business was assessed somewhat worse. The outlook for the coming months, however, was a bit more positive.
The IFO business climate East Germany is based on approx. 1,700 monthly reports of companies in the processing trade, the service sector, trade and the main building industry. Companies are asked to assess their current business situation and to inform their expectations for the next six months.