German business confidence rose for a ninth consecutive month in December as Europe's biggest economy continued to recover steadily from its worst recession in decades, a leading survey showed Friday.
The Ifo business climate index rose to 94.7 points — its highest level since July 2008 — from 93.9 points in November. The increase was modestly higher than market expectations and stoked hopes that the recovery is on track.
"After the dramatic economic collapse last winter, these survey results should bring some Christmas cheer," said Ifo president Hans-Werner Sinn.
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