Business confidence in Europe’s largest economy continues to gather steam amid signs that the global economy is improving.
Germany’s IFO Business Climate Index increased by 0.6 points to 91.9 in October, the best reading in just over a year. Moreover, expectations regarding future growth continue to push ahead.
Available survey indicators continue to signal an ongoing stabilization of economic activity, according to the European Central Bank. “In particular, the euro area should benefit from a recovery in exports, the significant macroeconomic stimulus under way, and the measures taken to restore the functioning of the financial system.”
Germany is heavily dependent upon exports and was hit hard by the global recession.
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