German research group Ifo Institute said that German business confidence reached a 7 month high with a reading of 109.6. The improvement has done on for four straight months. Both the measures of current and future confidence also showed improvement.
What Germany’s businessmen are looking at is a mystery. The balance of the eurozone is in the grips of a recession. Germany relies heavily on exports to these nations. Consumer spending among the nations own population may be strong, but how long can that last as people watch the balance of the continent slip toward depression.
The US economy has improved. It is one of Germany’s largest trading partners. But, it is not likely that the very modest growth in US GDP and employment can carry Germany on their own.
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