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German Economy Is Set to Pick Up as Business Confidence Improves

  • Ifo business climate index rises to highest in 2 1/2 years
  • Gauges for current situation, expectations both improve
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Germany’s economy is on track for more robust growth.

Business confidence rose to the highest level in more than two years in October, the Munich-based Ifo institute said on Tuesday. This adds to signs of renewed growth momentum in Europe’s largest economy, after uncertainty related to the U.K.’s vote to leave the European Union contributed to a temporary slowdown.