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German business morale up for 3rd month

Friday, January 25 11:31:06

German business morale improved for a third consecutive month in January, adding to evidence that Europe's largest economy is rebounding after a contraction in the fourth quarter of last year.

The Munich-based Ifo think tank said today its business climate index, based on a monthly survey of some 7,000 firms, rose to 104.2 in January, the highest reading since June 2012 and up from 102.4 in December.

That beat the median forecast in a Reuters poll of 40 economists for the index to climb to 103.0 and matched the highest estimate in the poll.

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