German business confidence posts surprise gain in November

The mood in German business boardrooms rose
unexpectedly in November, a closely watched survey showed on Monday,
raising hopes about the outlook for Europe's biggest economy, dpa reported.
The Munich-based Ifo economic institute said its business confidence
indicator jumped to 104.7 points this month from a reading of 103.2
in October, bringing to an end six consecutive monthly falls.
The German economy narrowly missed out on tipping into a recession in
the third quarter when it grew by a meagre 0.1 per cent after
contracting by 0.1 per cent in the three months ended June.
Based on a monthly survey of about 7,000 companies, the Ifo indicator
showed both business leaders assessment of the current economic
conditions in Germany and their expectations for six months down the
track coming in stronger than forecast
While the index measuring business conditions came in at 110 points
this month, the gauge measuring expectations stood at 99.7 points.