German business confidence index rises for third time in row

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/FP
Business confidence in the Europe's largest economy advanced above expectations of economists in January suggesting that the country's economy is recovering from a decrease the last month, the Ifo Business survey revealed on Friday. The Ifo Business Climate Index for German industry and trade advanced for the third consecutive month from a 102.4 in December to 104.2 in January, its highest level since June.

"Today's Ifo index nicely illustrates the green shoots in the German economy," said Carsten Brzeski, an economist at ING Group in Brussels. "Even if the current harsh winter weather delays the blossoming somewhat, growth should return, leaving the contraction of the fourth quarter quickly behind."
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