Ifo Business Survey for September 2004

The business climate in German trade and industry stabilised in September to a large extent after the slight clouding over in the previous month. The current business situation was even judged slightly more favourably, but more scepticism was expressed regarding business expectations. The climate indicator was similar in eastern and western Germany; in eastern Germany the current situation improved noticeably, whereas the business prospects were assessed more pessimistically than in western Germany.