German business confidence rises more than expected

German businesses rounded off 2016 with a stronger-than-forecast increase in confidence, a closely-followed survey showed Monday, despite fears for the future over Brexit and Donald Trump. The Munich-based Ifo institute’s headline business confidence index hit 111.0 points in December, an increase of 0.6 points over November’s reading. “The German economy is in a festive mood,” commented Ifo head Clemens Fuest, hailing a “strong finish to the year”.

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