German Business Confidence Unexpectedly Gains in November
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German business confidence unexpectedly rose for the first time in seven months after the country’s economy returned to growth and the European Central Bank added stimulus to the euro area.
The Ifo institute’s business climate index, based on a survey of 7,000 executives, advanced to 104.7 in November from 103.2 in October. Economists predicted a decline to 103, according to the median of 41 estimates in a Bloomberg survey.