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German Business Confidence Rises to Strongest in 20 Month

German business confidence rose to the strongest in 20 months in a signal that the pace of recovery is quickening in Europe’s largest economy.

The Ifo institute’s business climate index, based on a survey of 7,000 executives, increased to 109.5 in December from 109.3 in November. That matches the median prediction of 39 estimates in a Bloomberg News survey and is the highest level since April 2012.