World Economy

Business Confidence Grows

Business Confidence GrowsBusiness Confidence Grows

German business confidence rose again in December, the Ifo economic institute said Thursday, as the prospects for Europe’s biggest economy grew sunnier. The Ifo institute’s closely watched business climate index rose to 105.5 points this month from 104.7 points in November, the think tank said, AFP reported. “The outlook for the months ahead continued to brighten,” Ifo chief Hans-Werner Sinn said in a statement. “Dropping oil prices and a falling euro exchange rate are seasonal gifts to the German economy.” Ifo calculates its headline index on the basis of companies’ assessments of current business and the outlook for the next six months.