German Business Confidence Up More Than Expected

FRANKFURT, Germany (AP) — Germany's much watched Ifo index of business optimism rose for the third month in a row in a positive sign for the largest economy in the eurozone.

The January reading of 108.3 was up from 107.2 in December and exceeded market expectations for around 107.5.

It's a positive sign for the largest economy in the eurozone. Economists say Germany may show a slight dip in output for the last months of the year and then resume moderate growth later in 2012.

The government expects 0.7 percent growth for the year.