Leasing: Further brightening of the business climate, but investment reluctance only slowly dissipating

According to the latest results of the Ifo Business Survey in leasing, the business climate index rose in the fourth quarter of 2003 for the fourth time in succession, reaching a three-year high. The leasing companies are not only optimistic about the future, but they also assessed their present business conditions more favourably. Almost one in four companies evaluated the current situation as favourable, 73% as satisfactory, and only 3% of the survey participants felt that the current business situation was poor. In employment, few positive signals were detected, however. At a somewhat higher rate than in the last survey, 62% of the leasing companies reported hindrances of business activity, with one in three complaining about legal and tax general conditions.