German construction confidence

Increasing Confidence in the German construction sector helped overall business confidence in Germany rise to a six year high in January. The IFO Institute said that its Business Climate Index for overall German trade and industry rose last month to 102 from 99,7 in December 2005.

The index has now risen for the second month in succession and for the fourth time in the last five months. According to IFO, expectations in the construction sector are now at the most positive level since November 1994.

IFO measures current business confidence as a balance value, derived through surveying 7000 German businesses.