DRESDEN (dpa-AFX) – The mood in the East German economy brightened slightly in October compared to the previous month. The barometer for this, the ifo Institute’s regional business climate index, rose from 88.4 points to 89.3 points. The approximately 1,700 companies surveyed rated both their current business situation and their expectations somewhat better than in September.
The business climate improved significantly in the manufacturing sector. Industrial companies also assessed their business situation somewhat better – and significantly revised their expectations for the coming months upwards.
In the East German service sector, however, the business climate cooled slightly in October. Although the companies surveyed were somewhat more satisfied with their business situation, they lowered their expectations slightly. The business climate also improved noticeably in East German retail. In addition, companies in retail and wholesale increased their business expectations significantly.
The business climate index rose significantly in the construction industry. The companies rated current business significantly better than in September, but also looked to the coming months with a little more pessimism./toz/DP/mis