Germany Defies Euro-Area Recession as Italy Contracts: Economy

German business confidence rose more than economists forecast to a seven-month high in February as Europe’s largest economy bucks a recession that’s gripping the region’s southern fringe.

The Munich-based Ifo institute said its German business climate index, based on a survey of 7,000 executives, climbed to 109.6 from 108.3 in January. That’s the fourth straight gain and the highest reading since July. Economists predicted an increase to 108.8, the median of 38 estimates in a Bloomberg News survey.