RTTNews Forex Top Story November 22, 2013:
German Ifo Business Sentiment At 19-Year High 11/22/2013 5:33 AM ET German business morale rebounded strongly in November to reach its highest level in more than one-and-a-half years, suggesting that the economy might have gathered momentum in the final quarter of the year. The headline business climate index rose to 109.3 in November from 107.4 in October, survey results from the Munich-based Ifo Institute showed on Friday. Economists had forecast an increase in the index to 107.7. "November's German Ifo index echoes the message of the ZEW survey and PMI that the economy might have regained a bit of momentum in the fourth quarter" after the third quarter's slowdown, said Jonathan Loynes, Chief European Economist at Capital Economics. The Ifo's current conditions index scored 112.2 during the month, up from 111.3 in October. The expected score was 111.5. The expectations index jumped to 106.3, the highest reading since May 2011, from 103.