Business confidence in Germany shows surprise bounce
Published 24/11/2011 | 10:36
BUSINESS confidence in Germany showed a surprise bounce today, according to new indicators.
The Ifo economic institute’s closely watched sentiment index rose to 106.6 in November from 106.4 in October – its first rise in four months and a surprise to analysts who had predicted a decline to 105.1.
"The German economy is still performing relatively well despite the international turmoil," said the president of the institute, Hans-Werner Sinn.
The slight increase is due to somewhat less skeptical business expectations," he added.
"The current business situation, according to the survey responses, remains positive," added the economist.