Dresden (dpa/sn) – The mood of eastern German companies improved slightly in October compared to the previous month. This is the result of a survey by the Ifo Institute published in Dresden on Friday. According to this, the companies lowered their assessment of ongoing business somewhat, but were more optimistic about the coming six months. In the manufacturing industry in particular, for example the food and beverages industry, the mood has “warmed up considerably”, it said.
Overall, the index for the business climate within the regional economy rose from 85.2 points in September to 86.2 points in October. The mood in retail is also better again: companies assess current business better than in September and are also more optimistic about the coming period.
On the other hand, the mood in the east German service sector and in the main construction trades has deteriorated. The assessment of the situation in October was significantly worse in both sectors than in September. While business expectations fell at the same time in the construction sector, according to the survey, they were significantly better in the service sector.
The Ifo Institute’s business climate index is based on around 1,700 monthly reports from companies in various sectors. Founded in 1949, the institute is based in Munich and analyzes the German economy.
