December 19, 2016 / 9:41 AM / 7 months ago

German Ifo business morale hits highest level since Feb. 2014

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An employee of German car manufacturer Mercedes Benz observes the connection between the bodywork and the chassis of an A class (A-Klasse) model at their production line at the factory in Rastatt, Germany, January 22, 2016.Kai Pfaffenbach/Files

BERLIN (Reuters) - German business morale rose in December, a survey showed on Monday, hitting its highest level since February 2014 and supporting expectations that Europe's largest economy will rebound in the fourth quarter.

The Munich-based Ifo economic institute said its business climate index, based on a monthly survey of some 7,000 firms, rose to 111.0 after from 110.4 in November.

The December reading compared with a Reuters consensus forecast for a value of 110.7.

"The German economy is making a strong finish to the year," Ifo chief Clemens Fuest said in a statement. He added that both the manufacturing and wholesaling indices rose and manufacturers were planning to ramp up production in the months ahead.

Writing by Joseph Nasr; Editing by Paul Carrel

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