By Tuba Sahin
ANKARA (AA) - Germany's business climate index increased considerably in December compared to a month ago, beating market forecast, a Munich-based research institute data showed on Monday.
The Ifo Business Climate Index rose to 88.6 points in December, up from 86.4 points in November.
The market estimate was 87.4 points for the month.
"German business is entering the holiday season with a sense of hope," the research institute said amid high inflation and the energy crisis.
Companies' assessments of current business situation bettered in December following six consecutive falls in the indicator.
Their expectations also improved noticeably compared to a month ago.
The Ifo Business Expectations Index rose to 83.2 in December, up from 80.2 in November.