German corporate sentiment unexpectedly rose in December as firms' business expectations and their assessment of current conditions both improved, a survey showed today.
The Munich-based Ifo research institute said its business climate index, based on a monthly poll of around 7,000 firms, rose to 108.7 from 106.8 in November.
"The German economy is experiencing a very strong economic boom, as last observed in 1990," Ifo said in a statement.
"For the third month in succession, more confidence was expressed in the six-month outlook," it added. "The firms also continue to see good opportunities for their export business."
The Ifo reading surpassed all the forecasts in a Reuters news agency poll of 52 economists and came in well above a consensus for a flat 106.8 reading.
