German business sentiment rises to 8-month high in February

By Tuba Sahin

ANKARA (AA) - Improving for the fourth consecutive month, Germany's business climate index in February hit its highest level since last June, data from a Munich-based research institute showed on Wednesday.

The Ifo Business Climate Index rose to 91.9 points in February, rising from a downwardly revised 90.1 points in January.

The figure was slightly lower than the market forecast of 91.2 points.

"The German economy is gradually working its way out of a period of weakness," said Clemens Fuest, president of the Ifo Institute.

Companies' assessments of the current business situation worsened in February while their expectations were brighter.

The Ifo Business Expectations Index rose to 88.5 in February, up from 86.4 in January.