By Gokhan Ergocun
ISTANBUL (AA) - The Business Climate Index in Germany rose to 88.6 points in February from 87.6 points in January, signaling economic recovery, the Munich-based Ifo Institute stated on Monday.
German companies expressed greater satisfaction with their current business operations and developed more positive future expectations.
Ifo Institute President Clemens Fuest said that the German economy showed its first signs of recovery.
The manufacturing sector experienced another index increase, which was primarily driven by considerably better assessments of the current business environment.
Although expectations within manufacturing declined, the order situation developed positively and production planning saw an upward correction.
The service sector registered an improved business climate, with expectations and satisfaction levels rising notably among service providers.
The business climate indicator in the logistics sector also improved considerably during the month.
In contrast, the trade sector witnessed a slight index decline as companies assessed their current situation as slightly worse.
While trends in the wholesale segment improved slightly, sentiment among retailers declined significantly despite a marginally upward outlook for the coming months.
The construction sector continued to improve its business climate with more positive assessments, even though the order situation recovered slowly.