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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Alfonso Esparza
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.
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