Rise in Germany's business morale in month of November

Rise in Germany’s business morale in November

BERLIN- German business morale rose, as expected, in November and Europe’s largest economy is showing resilience after contracting earlier in the year, a survey showed on Monday.

The Ifo institute said its business climate index rose to 95.0 in November from 94.7 in October. The November reading was in line with a Reuters consensus forecast.

“In the service sector, the business climate has improved,” Ifo President Clemens Fuest said in a statement. “Traders were more satisfied with the current situation … The signs are that business will be very good this Christmas.”

“Manufacturing, however, is still stuck in recession,” he added.

(Content and photos syndicated via Reuters)

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