Germany's closely-watched Ifo index shows a surprisingly positive business sentiment for November. But analysts point out that most responses in the survey came in before the November 13 terrorist attacks in Paris.
German business morale unexpectedly improved in November, a survey showed on Tuesday, suggesting company executives in Europe's largest economy were more upbeat despite weaker export prospects in China and other key emerging markets.
The Munich-based Ifo economic institute's business climate index, based on a monthly survey of some 7,000 firms, jumped to 109.0 from 108.2 in October.
The reading was the strongest since June 2014. In a survey conducted by Reuters, analysts had expected the Ifo barometer to show a reading of 108.2.
The Ifo survey was conducted in the first three weeks of November, with most responses coming in before the terror attacks in Paris on November 13, an Ifo spokesman said.
tko/hg (Reuters, AFP)