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)