German business confidence at new 2-decade high

Business confidence in Germany has risen to a new two-decade high, with manufacturers and exporters upbeat as Europe's biggest economy motors ahead despite the debt crisis afflicting some fellow euro nations, a survey showed Monday.

The Ifo institute's monthly confidence index, a closely watched economic indicator, was up to 111.2 points for February from 110.3 in January. It was the ninth consecutive month-on-month rise, defying expectations of a slight retreat.

Confidence among manufacturers, wholesalers and construction managers increased, and Sinn said that "exporting firms once again anticipate stronger impulses from foreign business."