The good news just keeps on coming for Germany. Two weeks ago, Europe’s biggest economy gave investors and economists something to smile about, after making an unexpected exit from the recession. To top things off, yesterday, Germany’s Ifo Institute said that business confidence in the nation surged in August to its highest level in just under a year.
The business climate index, which is used as an indicator for future economic activity, jumped to 90.5 in the month (vs. 87.4 in July), thus fueling hopes for solid GDP growth in the third quarter of 2009.
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