German Business Optimism Hits Record High

German companies are more confident than ever as they tap into the global economic upswing.A measure of the nation’s business confidence set a new record high in November. The Ifo institute’s index climbed to 117.5 from a revised 116.8, beating economists’ estimates for the gauge to remain unchanged.“The recent uptick is the index is mostly due to the manufacturing sector, so the export industry really,” Ifo Institute President Clemens Fuest said in an interview on Bloomberg Radio. “We’ve had a strong domestic economy for some time and what’s being added now is a stronger global economy.”

Source: German Business Optimism Climbs to Record as Economy Booms – Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.