BERLIN — German business morale rose more than expected in December to hit a six-month high in a survey released on Wednesday, suggesting that Europe's largest economy picked up steam in the fourth quarter despite a persistent manufacturing crisis. The Ifo institute' business climate index rose to 96.3 in December from an upwardly revised 95.1 in November. "The German economy is heading into the New Year with more confidence," Ifo President Clemens Fuest said in a statement, adding that companies' assessment of their current business conditions and their outlook for the coming six months had both improved. The figures suggest that the German economy grew by 0.2% in the fourth quarter, Ifo economist Klaus Wohlrabe said. But the industrial sector nonetheless remained in recession and would recover only slowly, he added.

Source: New York Times December 18, 2019 09:35 UTC