German Business Confidence rises

German Business Confidence unexpectedly rose for a 3rd month in March, suggesting the German economy is coping with near record oil prices and an ever appreciating Euro. The IFO Institute said its business climate index, based on a survey of 7,000 executives, increased to 104.8 from 104.1 in February. economists had expected a drop to 103.5. German companies have increased efficiency and reduced labor costs, helping them remain competitive even after the Euro gained 17% against the Dollar in the past year and Oil prices rose above $100 a barrel.“Euro Positive”

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