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