German Business Confidence in February reached the highest level in 10 months

Source: Bloomberg
Business confidence of Germany topped economist`s expectations jumping to the highest level in 10 months, indicating that Europe`s greatest economy is gaining momentum. Based on the Ifo institute`s survey, business climate index rose from 104.3 to 107.4. A measure of current conditions climbed from 108.1 to 110.2. Furthermore, the Euro strengthened a third of a cent and was traded at $1.3232 at 10:15 in Frankfurt.

"Nothing seems to be able to stop German business optimism," said Carsten Brzeski, senior economist at ING Group in Brussels. "While most other euro-zone countries remain stuck in recessionary territory, preoccupied with structural reforms and austerity, German businesses are surfing on the wave of optimism."
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