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Newsletter #162 (View other news stories)
German business sentiment not improving
BERLIN, Germany
Thursday, 17 Jun 2004
A survey has revealed German business confidence has not improved since February.
The survey, released by Berlin-based research company DIHK, said executives who rated the situation as "good" held at 19% in April and May, unchanged from the last survey in February, and 28% of companies expected conditions to improve, down from 32% in February.
"The economy is still robust, but clouds are starting to cover the economic horizon," DIHK said. "Companies fear the overheated world economy may lose steam more quickly than domestic demand can recover."
The report follows data showing unemployment rates in Germany, at more than 10%, rose for the fifth consecutive month in May.
In March, German forklift maker Linde posted a full-year net profit of USD131 million for 2003, down USD160 million from its 2002 result.
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