German business sentiment surprises with rise in Nov

BERLIN Fri Nov 23, 2012 4:10am EST

Related Topics

BERLIN Nov 23 (Reuters) - German business sentiment surprised with a rise in November, breaking a six-month run of declines as companies in Europe's powerhouse economy turned slightly more optimistic about their current business and expectations despite the euro zone crisis.

The Munich-based Ifo think tank said on Friday its business climate index, based on a monthly survey of some 7,000 firms, rose to 101.4 in November from 100.0 in October.

That surpassed even the highest estimate in a Reuters poll of 41 economists, which had forecast a drop to 99.5, with figures ranging from 98.5 to 100.3.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.