German business confidence up more than expected

German business confidence has increased more than expected this month as hopes rise that Europe’s largest economy will quickly put behind it a weak patch and benefit from an easing in the continent’s financial turmoil, a closely watched survey showed on Friday.

The Ifo institute’s confidence index, a key indicator of where the German economy is headed, rose to 104.2 points in January from 102.4 in December.

via Business feed http://www.scmp.com/business/economy/article/1136534/german-business-confidence-more-expected