German Business Confidence at the highest level since February 2014

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Monday, Dec 19 2016

German Business Confidence at the highest level since February 2014

German business morale rose in December, a survey showed on Monday, hitting its highest level since February 2014 and supporting expectations that Europe's largest economy will rebound in the fourth quarter. The Munich-based Ifo economic institute said its business climate index, based on a monthly survey of some 7,000 firms, rose to 111.0 after from 110.4 in November.

The December reading compared with a Reuters consensus forecast for a value of 110.7."The German economy is making a strong finish to the year," Ifo chief Clemens Fuest said in a statement. He added that both the manufacturing and wholesaling indices rose and manufacturers were planning to ramp up production in the months ahead.

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