German business confidence unfazed by Paris attacks

BERLIN: German business confidence bounced back in November as Europe's top economy shrugged off global uncertainty and the deadly jihadist assault in Paris, a leading economic think tank said Tuesday.



The Ifo institute's closely-watched business climate index rose to 109 points in November from 108.2 points in October, Ifo said in a statement, surprising analysts polled by financial services firm Factset who had expected another dip to 108.1.

"The German economy remains unaffected by growing uncertainty worldwide," Ifo president Hans-Werner Sinn said in a statement.



"Not even the Paris attacks had a negative impact on survey data."

For its survey, Ifo quizzes companies about their current business environment and the outlook for the next six months.

The sub-index measuring current business climbed to 113.4 points while the outlook sub-index rose for the third consecutive month to 104.7 points, it said.



In the key manufacturing sector, the upbeat outlook reached the highest level since March, indicating that production "will be ramped up in the months ahead".

A sub-index for the automotive sector continued to rise despite the emissions scandal at Volkswagen, Ifo said.