German business confidence improved unexpectedly in November, reports said citing a survey from the Ifo institute on Monday.
The business confidence index rose to 104.7 in November from 103.2 in October, which was the lowest since December 2012. The score was expected to drop to 103.
The current conditions index came in at 110, while economists expected it to fall to 107.9 from 108.4 in October.
At the same time, the expectations index climbed to 99.7 in November from 98.3 in the prior month. The expected score was 98.4.
The material has been provided by InstaForex Company – www.instaforex.com