German business confidence up on strong outlook
BERLIN (AP) -- German business confidence has edged higher as managers in Europe's biggest economy anticipate faster economic growth in the new year.
The Ifo institute said Wednesday that its closely watched confidence index climbed to 109.5 points this month from 109.3 in November. That was in line with economists' expectations.
The increase was fueled by a rise in companies' expectations for the next six months, while their assessment of their current situation was a little less rosy.
The German economy is expected to see growth accelerate next year after only a modest increase in output in 2013, while the eurozone's recovery from recession is forecast to continue.
Ifo's monthly survey is based on responses from about 7,000 companies.