Ifo Business Survey for November 2007

The business climate in German industry and trade, which had consistently deteriorated in the preceding five months, improved slightly in November. In the judgements of the current situation, the positive responses gained ground somewhat, but the outlook was assessed with more reserve. The results of the Ifo Business Survey thus confirm that the economy is in good health; the likely cooling in the months ahead will be gradual and from a high starting point. Evidently the financial crisis, the high oil price and the euro appreciation have not slowed down the economy significantly.