Survey: German business confidence rises in November

Business News

BERLIN (AP) — A closely watched survey is showing that German business confidence has increased slightly.

The Ifo institute said Monday that its monthly confidence index edged up to 95.0 points in November from 94.7 in October.

The survey is based on responses from some 9,000 firms in Germany, Europe’s biggest economy.

Their assessment of their current situation rose to 97.9 points from 97.8, while their expectations for the coming six months increased to 92.1 points from 91.6.

Analysts had widely predicted that Germany’s economy entered a technical recession in the third quarter, but figures released earlier this month instead showed quarterly growth of 0.1%.

Still, businesses remain cautious in light of the U.S.-China trade war and uncertainty related to Britain’s departure from the European Union.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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