Ifo Business Survey for September 2010

The Ifo Business Climate for industry and trade in Germany remained at a favourable level in September. The firms are again more satisfied with their business situation than in the previous month. For the near future they continue to be optimistic although not quite as much as in August. The upswing in the Germany economy continues at a slower pace. The Ifo Employment Barometer also rose slightly, almost reaching the level of the boom year 2007. Firms' employment plans thus indicate continuing positive labour-market developments. In manufacturing the share of firms looking for additional employees has marginally declined in September. Overall, no workforce reduction is planned, however. Manufacturing firms currently consider the number of employees to be adequate. The firms are more satisfied with their order stocks, and due to greater production activity, overtime is increasing; the extent of overtime usually remains within the normal range, however.