German Business Climate improves

Tuesday, 20 December 2011 02:33

Despite debt crisis in euro zone German economy seems to be successfully avoiding Western Europe problems.

According to Information and Forschung institute German Business Confidence rose in December to 107.2 from 106.6 previous month.

Economist estimated decline for index to 106.2.

News had good impact for euro, that kept gaining against U.S. dollar, with EUR/USD to trade at 1.3038.

The GfK Consumer Climate is holding steady at 5.6 in line with expectations and it is heading for the same level into upcoming 2012.