German business sentiment brightened in November, easing concerns that German’s economy is in the doldrums.
A business climate index by the influential Ifo Institute, a Munich-based think tank, rose to 104.7 in November, up from 103.2 in October when it hit its lowest level in almost two years and a sixth consecutive monthly decline.
The November figures reverse that decline and come in above forecasts by analysts polled by Reuters of 103.0.
The German DAX traded 0.5 percent higher after the data was released with investor sentiment buoyed after more worrying data from Germany recently.
Business output fell markedly in Germany in November — to a 16-month low, according to data released by Markit last week — adding to disappointing recent growth figures for the largest economy in the euro zone.
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