Bavaria’s Economics Minister Zeil comments on results of the ifo Business Climate Index for July 2010

Zeil: “Consolidate upswing in the long term by boosting innovation momentum”

MUNICH    The Bavarian Minister of Economic Affairs, Martin Zeil welcomed July’s results of the ifo Business Climate Index, saying: “The extremely positive figures for the ifo Business Climate are another pleasing sign showing how quickly and sustainably the economy is stabilising in Germany. The State of Bavaria is once again benefiting exceptionally well from the recovery of global trade.” He added that it was now up to the politicians to give a sustained boost to the forces of growth in industry. For Bavaria, this meant in concrete terms speeding up the momentum of innovation in industry. “We will give new driving force to our innovation and technology policies. This is one of the key pillars of Bavaria’s new government programme “Aufbruch Bayern“ - Bavaria on the Move - commented Zeil.
 
In the first five months of the year, orders received from abroad in Bavaria’s manufacturing industries were well above the level of the previous year with a plus of 25 per cent. In May, they received another boost with a 30 per cent increase over 2009. Zeil said: “On the whole, order intake in the manufacturing industries is now almost back at the pre-crisis level of 2008. This promises a continuation of the pleasing economic trend for the coming weeks and months.” In July, the ifo Business Climate in Germany went up significantly by 4.4 points compared to the previous month to 106.2 points.