In Germany the Ifo index, which monitors business confidence, rose to 111,3 points in February, from 110,6 in January. The figure is better than the estimates of economists, who had forecast a slight decline to 110,5.
This month's figure represents the highest value for two and a half years, signaling a probable acceleration for the growth of the German economy in 2014. The Ifo index is based on a survey involving 7 German executives.
According to Ifo experts, German companies are "optimistic but not euphoric" and consumption remains a "bulwark for the economy". The good situation of manufacturing orders is decisive, while construction is "stable".
The turbulence in emerging countries has "slightly affected" the expectations of exporters and the European recovery will have an impact on the German economy "only in the medium term".
