Services sector: Current Business Situation Clearly More Favourable

The Ifo Business Climate Indicator for the services sector (excluding distribution, banking, leasing, insurance and the public sector) rose sharply in December. Service providers’ assessments of their current business situation were considerably more positive and they expressed even greater confidence in business developments over the next six months than in November. Companies expect growth in sales to weaken slightly in the near future and plan to moderately increase their staff base.