German growth spurs recovery

GERMAN business confidence rose to the highest in 33 months and French consumer spending unexpectedly increased, suggesting an economic recovery in the 12 nations sharing the euro is gaining strength.

The benchmark indicator of western German business optimism, based on a survey of 7,000 companies, climbed to 95.7 from a revised 94.3 in October, according to the Munich-based Ifo institute.

In France, consumer spending on manufactured goods rose 1.6% in October, the second monthly increase.