German business confidence rises in November, ending 6 months of declines

Economic IndicatorsAssociated Press

A closely-watched survey shows German business confidence rose in November, putting an end to six consecutive months of declines.

The Ifo institute said Monday that its confidence index rose to 104.7 points in November from 103.2 points in October. Business leaders' assessments of their current situation and their expectations for the next six months both rose as well.

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Germany, Europe's largest economy, posted a 0.2 percent GDP decline in the second quarter but returned to growth in the third quarter with expansion of 0.1 percent, avoiding recession.

Ifo's survey is based on responses from about 7,000 companies in various sectors.