Germany’s Ifo Index Rises in November As Confidence Stronger

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.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza