Ifo index: German economy recovering
Hopes of an economic recovery in Germany rose today as its closely watched Ifo business climate index rose for the sixth successive time.
It now stands at 94.2 in October from 92 in September and is at its highest level since February 2001.
Economists said the increase suggested that the euro-zone's biggest economy was on the mend after slipping into recession in the first half of this year.
Hans Werner Sinn, president of Ifo, said : "The improvement in the index was in line with the recent joint forecast of Germany's six main economic research institutes, which saw a modest upturn starting in the fourth quarter."
Last week the European Central Bank delivered an upbeat message on the euro-zone's growth prospects.
