German business confidence “improves significantly” in SeptemberSeptember 26, 2016 - 13:41 AMT PanARMENIAN.Net - German business confidence improved significantly in September, the Ifo economic institute said Monday, September 26 recovering from a post-Brexit slump a month earlier and suggesting a more positive outlook for Europe's largest economy, AFP reports. The closely-watched business climate index jumped to 109.5 points from 106.3 points in August, an Ifo spokesman told reporters. The Ifo said the September reading was the highest since May 2014. "The German economy is expecting a golden autumn," it said. Analysts surveyed by Factset had predicted the mood to stay unchanged. The figure is all the more surprising after the index suffered a steep fall in August, when Ifo said the German economy had fallen into "a summer slump" as companies worried about the fallout from Britain's decision to leave the European Union. "The prominent Ifo index suggests that Brexit fears have disappeared as quickly as they had emerged," said Carsten Brzeski, chief economist at ING Diba. Ifo's headline figure is based on a survey of some 7,000 businesses who are asked about the current climate and their expectations for the next six months. Within the index, current business sentiment climbed from just under 113 points in August to 114.7, AFP says. Confidence in the future outlook soared from 100.1 points to 104.5. Related links: Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Erdogan wants “realistic road map” for relations with Armenia Turkish President Recep Tayyip Erdogan has called for a “new realistic road map” for relations with Armenia. Armenia-Azerbaijan: Experts launch work on determining coordinates Expert groups from the countries started the process of determining the coordinates based on geodetic measurements. Yerevan says did not expect CSTO in peacekeeping role Pashinyan has declared that the CSTO would be expected to come to the Armenia-Azerbaijan border as an ally of Armenia Henrikh Mkhitaryan wins Serie A title with Inter Inter Milan midfielder Henrikh Mkhitaryan admits that the team have long been imagining clinching Serie A against AC Milan. |