"Ifo index paints a too positive picture of the growth prospects for the German economy"
- Carsten Brzeski, senior economist at ING Group
German business confidence unexpectedly improved in April, a sign the euro zone's largest economy is weathering Europe's debt crisis. Ifo business climate index, which is based on a survey of 7,000 businesses, rose to 109.9 points from 109.8 points in March.
"German companies taught nervous financial markets another important lesson today," said Andreas Rees, an economist at UniCredit Group in Munich. "One should not underestimate the German economy and its resilience."
"Today's Ifo index paints a too positive picture of the growth prospects for the German economy," said Carsten Brzeski, senior economist at ING Group in Brussels.
European stocks rose on Friday.
The Stoxx Europe 600 Index rose 0.50 per cent to 257.79. Germany's DAX Index increased 1.18 per cent and France's CAC 40 Index gained 0.46 per cent.
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