Ifo Business Survey for February 2003

The Ifo Business Climate in the manufacturing, construction, retailing and wholesaling brightened clearly in February. In western Germany the judgements of the current business situation improved, but also the business outlook was viewed a little less sceptically. In eastern Germany the climate indicator rose for the third time in succession. This development of the business climate gives cause for hope, but the results do not yet offer unambiguous proof of a lasting upswing. For this, the indicator would have to increase for at least another months in western Germany.