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Macroeconomics  |  November 27, 2012 04:38:42

German Ifo index after six months, increased again

The mood in Germany (Ifo index) after six months of decline in November improved. This confirms our bets on the upturn in the German economy at the beginning of 2013. At the same time it's good news for all Central European economies - German business sentiment index is part of our of leading indicators for the Czech Republic and Poland.

 It is positive to see that also improves the Ifo expectations mainly and not so much in the assessment of the current situation - it is a classic model of the reflection from the bottom. On the other hand, remains rather embarrassed index structure by industries. The improvement is mainly pulls very volatile retail and wholesale, while the manufacturing industry as a reliable forerunner of the economic cycle remains without major changes to very low levels. It is therefore possible that the Ifo at this time improves only because traders betting on a good Christmas sales. Then the beginning of 2013 did not even bring the much-awaited recovery.

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Source: CSOB

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Německý index Ifo po šesti měsících znovu vzrostl

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