German business confidence is at its highest point for 18-months, according to the Munich-based thinktank, Ifo. The business climate index climbed from 107.4 in October to 109.3 in November - better than had been expected, according to a poll conducted by Reuters.
Germany’s economic expansion is broad-based, with expectations rising across all sectors of the economy. The export prospects for manufacturers are brightening with resilient growth in important export markets like the US and China. And at home, retailers in particular could be heading for a much stronger Christmas shopping season. German households generally should be in a fairly comfortable financial situation with high savings, low debt, rising wages and low inflation.