German Ifo Shows Businesses are More Confident in the Economy

he German economy is showing signs of resilience, after growth slowed in the third quarter, as companies look beyond the eurozone crisis to brighter prospects in China and the United States.
The Ifo business climate index published Friday rose to 101.4 in November, from 100 in October, showing its first month-on-month gain since March.

Companies expressed greater satisfaction with their current situation and were slightly less pessimistic about the future.
“The German economy is holding up in the face of the euro crisis,” said Ifo Institute president Hans-Werner Sinn.
German growth has been hampered by the recession in the eurozone, with gross domestic product expanding by just 0.2% in the third quarter, compared with 0.3% in the second and 0.5% in the first.

via CNN

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