REPEAT: MNI: Germany Ifo To Add Service Sector To Biz Index

Repeats Story Initially Transmitted at 09:24 GMT Apr 9/05:24 EST Apr 9

--Ifo Says Will Rebase Business Climate Index From 2005 To 2015

--Ifo Says March 2018 Reading Now At Rebased 103.2 Vs Original 114.7

     LONDON (MNI) - Germany's Ifo said Monday it is set to revise its monthly

business climate survey, adding service providers for the first time.

     "Services now represent the major portion of the German economy, and Ifo

has been publishing a separate survey index on the services since 2005. This

important sector will now be an integral part of the Ifo Index," said Klaus

Wohlrabe, Ifo's Head of Surveys.

     "Service providers will now be included in the overall index as of April

2018," he added. 

     At the same time, Ifo said the index, to be renamed the 'Ifo Business

Climate for Germany', will be rebased from 2005 to 2015, which will see a sharp

revision to the level.

     "Because the new base year 2015 was economically better than 2005, the

value of the index will consistently decline by about 10 points. The value for

March 2018 is now 103.2 instead of 114.7. We must stress that this is purely a

base-year effect and not a plunge in the business cycle," Wohlrabe said.

     To go alongside this change, Ifo also said the service sector survey,

previously released the day after the Business Climate, will be discontinued.

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

--MNI London Bureau; +44 203-586-2226; email: jamie.satchithanantham@marketnews.com