Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  December 19, 2012 10:37:28

Germany - according to Ifo business confidence in December rose more than expected


German business confidence index watched Ifo Institute in December rose to 102.4 points in November, compared to 101.4 points. Market expectations were, on average, is set to grow to 102 points.

According to the comments, the second increase business confidence in a number of possible sign of improvement in the German economy, and there is some promise for the future recovery of Europe's largest economy. Ifo index thus adds to the positive signals in the form of the November increase in orders in the manufacturing sector and the growth of exports in the same month. The negative signals to the contrary was November's decline in industrial production and rising unemployment.

Last week, the Bundesbank has adjusted its estimates for German GDP growth to 0.7% this year and 0.4% next year. For the 4Q of this year the German central bank estimated decline in mild recession.
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