German business confidence surprised analysts by registering a second straight monthly increase despite the financial chaos engulfing the Eurozone region. The Ifo instituteÃ¢â‚¬â„¢s business climate index, based on a survey of 7,000 executives, climbed to 107.2 from 106.6 in November, the Munich-based institute said today. Economists predicted a drop to 106, the median of 36 forecasts in a Bloomberg News survey shows. The IfW and RWI institutes both released predictions showing economic growth in 2012.
Ã¢â‚¬Å“It just confirms that Germany is weathering the storm,Ã¢â‚¬Â said Tobias Blattner, an economist at Daiwa Capital Markets Europe in London. Ã¢â‚¬Å“Order books are still full, wage agreements are boosting consumer confidence and any decline in exports to the euro area is being cushioned by the U.S. and China.Ã¢â‚¬Â
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