Services: Climate indicator rises

The Ifo Business Climate for the service sector (excluding trade, banking, leasing, insurance and the public sector) improved in July. The surveyed firms assessed their current business situation less unfavourably than in June but expect only a minimal growth in turnover in the near future. In their business expectations for the coming half year, scepticism has weakened further, however. The service providers anticipate an unchanged business situation in the coming months. Their personnel plans foresee no changes in staff levels.