February 24, 2014 / 9:11 AM / 4 years ago

German business morale rises to top level in 2-1/2 years

BERLIN, Feb 24 (Reuters) - German business morale unexpectedly rose in February to its highest level since July 2011 in a sign that growth in Europe’s largest economy will likely accelerate in the first quarter after expanding only modestly last year.

The Munich-based Ifo think tank’s business climate index, based on a monthly survey of some 7,000 firms, increased to 111.3, beating the consensus forecast in a Reuters poll for the index to hold steady at 110.6.

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