German Business Confidence Increases to Record High
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German business confidence unexpectedly rose to a record high in January as booming exports to Asia and stronger household spending bolstered growth in Europe’s largest economy.
The Munich-based Ifo institute said its business climate index, based on a survey of 7,000 executives, increased to 110.3 from 109.8 in December. That’s the highest since records for a reunified Germany began in 1991. Economists predicted the index would hold steady, according to the median of 41 forecasts in Bloomberg News survey. French business sentiment also rose.