German business confidence hits 19-year high

 
City A.M. Reporter
German business morale rose to its strongest level since 1991 in December, buoyed by an
increasingly strong domestic sector that is helping the economy power ahead of weaker euro zone peers.

The Munich-based Ifo think tank said on Friday its business climate index, based on a monthly survey of some 7,000 firms, rose to 109.9 from 109.3 in November. The rise was the seventh
in a row and surpassed expectations for a fall to 109.1.

The reading amplified the positive message from other German data released this week, showing Europe's largest economy is leaving behind those weaker members of the euro zone struggling
with a debt crisis.

"The German economy is truly in top form," said DekaBank economist Andreas Scheuerle.