Germany Business Confidence Rises Unexpectedly

BERLIN -- A closely-watched survey has found business confidence in Germany unexpectedly rising this month following six straight declines.

Munich's Ifo institute reported Friday that its key business climate figure rose to 101.4 points in November from 100 in October. Economists had been predicting a modest drop to 99.5.

Germany's economy, Europe's biggest, has recovered strongly from its deep recession in 2008-09 despite the mounting debt problems on its doorstep. However, there have been recent signs that its export-driven economy is beginning to slow amid weakening demand from other countries.

Earlier this month, the German government's panel of independent economic advisers forecast that the economy will grow by only 0.8% this year and next.
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

If you liked this article you might like

What's Behind the Surge in Energy Stocks

Hillary Clinton Says Prosecuting Individuals is Key to Wall Street Reform