German business confidence rises above euro troubles

Data published today has shown that business confidence in Germany continues to climb.

A leading monthly business climate index has hit a high for the ninth consecutive month in January, despite fears a strong euro could hurt economic recovery.

The influential Ifo economics research institute said that business confidence had risen to 97.4 points in January on its monthly business climate index from 96.9 in December.

The rise in January proves "that the German recovery will continue," said Hans-Werner Sinn, chairman of the institute.

Analysts had predicted that the index would drop to 96.6 points due to the recent strength of the single European currency, which is a potential blow to exporters.