German Ifo index strengtens in December

Source: Bloomberg
© Scanpix/Reuters
German Ifo business sentiments index increased to 102.4 points in December, according to Ifo Institute survey. The business confidence improved in Germany more than expected, comparing with a forecast, which range is 101.4 to 102 points. The Purchasing Managers' survey indicated that Germany's private sector expanded in December after eight consecutive months of contraction.

"Recent survey evidence suggests sentiment is bottoming out in Germany, providing further support to our view that the weakness in German economic outlook is not to last long," said Gizem Kara, European economist at BNP Paribas in London. 
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