The Institute for Economic Research (IER) in Munich gave a glimmer of hope to the economy on Tuesday when its index registered an upswing. IER, the most important barometer of the German economy, said there was an unexpected leap in October. It's not just the expectations of businessmen, but the actual economic reality that is getting better, the institute reported. Although the upswing is coming, it's still weak - too weak to create new jobs.
The Handelsblatt from Dьsseldorf said the economic turnaround is largely the result of strong world economic growth, especially the push coming out of the United States. The fate and balance of the world upswing depends on whether Europe can take advantage of its economic potential, the business daily stressed.
Source: Deutsche Welle
