Wednesday 24 November 2010

Summary Box: German business confidence up in Nov.

FEELING GOOD: An Ifo Institute survey says German business confidence unexpectedly rose to its highest level since reunification in November. Europe's largest economy is growing even as other euro zone members are plagued by financial problems.

STRONG GROWTH: Germany's economy has made a comeback after contracting by 4.7 percent last year. Domestic demand is growing and unemployment is falling. The government is predicting full-year growth of 3.4 percent in 2010.

THE EURO AFFECT: The effects of economic troubles in other euro zone countries, which helped push the euro currency to a two-month low in Wednesday, could actually be helping Germany's export-based economy, says economist Peter Morici, a professor at the University of Maryland.

No comments:

Post a Comment