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German companies more willing to recruit in August, says Ifo

Staff Writer |
German companies' willingness to recruit more employees increased slightly in August, the Ifo research institute reported.

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According to the report, the Ifo employment barometer index rose to 108.7 points in August from 108.1 points in July.

The barometer increased in all four sectors including manufacturing, construction, service and wholesaling and retailing sectors, the Munich-based think tank said.

"Manufacturing in particular plans to recruit more new staff, despite the concern in the EU over the Brexit vote," the report noted.

The Ifo Employment Barometer is based on about 9,500 monthly responses from businesses in manufacturing, construction, wholesaling, retailing and the service sectors. The surveyed companies are asked to report on their employment plans for the coming three months.

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