German business confidence perks up after 6-month decline

BERLIN (AP) — A closely watched survey shows that business confidence in Germany, Europe’s biggest economy, has picked up unexpectedly after a six-month slide. The Ifo institute said its monthly confidence increased to 95.7 points in January from 94.8 in December. Economists had forecast another slight dip to 94.5. The index was led higher by much-improved expectations for the next six months. Managers’ assessment of the current situation, the other element of the survey, worsened slightly. Germany is seeing sharp increases in new coronavirus infections as the highly contagious omicron variant takes hold, though so far that hasn’t been accompanied by a massive rise in hospital admissions.