Summary Box: German business confidence up

AP News
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Posted: Jan 25, 2012 1:50 PM
Summary Box: German business confidence up

THE NEWS: German business confidence rose for the third month in a row in January, according to the Ifo index released Wednesday, suggesting a widely predicted European recession may not be as bad as feared.

PRIOR REPORTS: The upbeat Ifo numbers follow purchasing managers' surveys released last week that showed German activity in services and manufacturing rose unexpectedly.

THE HOPE: The data are signs that Germany, Europe's largest economy, may show moderate growth this year despite the debt crisis that is pushing some countries back into recession.