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German business morale rises in December despite strict lockdown

BERLIN, Dec 18 (Reuters) - German business morale rose unexpectedly in December even as Europe’s biggest economy went into a strict lockdown to contain a second wave of coronavirus infections, a survey showed on Friday.

The Ifo institute said its business climate index rose to 92.1 from an upwardly revised reading of 90.9 in November.

“Companies were satisfied with their business situation,” Ifo President Clemens Fuest said. “They are looking at the first half of the year with less scepticism. But the lockdown is hitting some branches hard. The German economy is on the whole showing its resilience.” (Reporting by Joseph Nasr; Editing by Maria Sheahan)

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