DAX Index Rose After Strong German Business Climate Data

Forex News

The main stock indexes of Europe show limited movements today. The DAX index continues to trade at high levels, supporting the reliable economy of Germany. The DAX increased by 0.27% today and is trading at the level of 13.043.50.

Business confidence in Germany reached a record level in November, placing Europe's largest economy on the road to a rapid recovery. Ifo Business Climate rose to 117.5 from the revised reading in October 116.8. This was higher than the forecast at 116.6. Germany's GDP accelerated to 0.8% in the third quarter, and this is the strongest quarter since 2014.

Manufacturing sectors in Germany and the Eurozone have been buoyed by an increase in global demand and stronger domestic consumption. The PMI manufacturing in Germany rose to the highest level since 2010 in November (62.5) compared to a rating of 58.3 points.