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German business confidence rises for 4th straight month
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A closely-watched indicator of German business confidence rose for the fourth straight month in February in another positive sign from Europe's largest economy.
The Munich-based Ifo institute said today its indicator rose to 106.8 points, up slightly from 106.7 the month before.
The Ifo says managers' outlook for the coming six months improved to 102.5 from 102.0 the month before, while their assessment of the current situation dropped slightly to 111.3 from 111.7 in January.
Germany exports, a key component to the economy, have been buoyed by the recent drop in value of the euro currency.
Ifo President Hans-Werner Sinn says "The German economy is proving robust in the face of geopolitical uncertainty."
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