Ifo business climate reached nine-months high in April…
Index describing business confidence among German traders increased unexpectedly in April 2012.
Ifo business climate improved to 109.9 form 109.8 points in March.
Meanwhile analysts forecasted a decrease to 109.5.
The current situation measure reached 117.5 points, beating expectations for 117.0 reading.
Ifo business confidence index is based on a survey of seven thousand German traders about stock, orders, production level, prices and employment.
