Even as Eurozone countries are struggling with debt crisis, its leader Germany continues to report good figures of the economy. German business confidence has reportedly hit fresh post-reunification high. Germany’s strong exports continue to drive the strong economic recovery.
IFO, the business confidence index is closely watched by markets. IFO climbed to 109.9 in December from 109.3 in November, itself a 20-year high. Germany is driving the EU’s recovery despite worries of debt crisis that hit most indebted countries of the Eurozone area.
Though the manufacturing growth has witnessed a small dip, analysts have inclined to brush it aside with the growing business confidence. Analysts are pointing out the increasing confidence among retailers and wholesalers. Some are expecting Germany’s annual GDP growth for the fourth quarter would be around 6 percent as compared to 3.9 percent of third quarter.