German business confidence jumped more than expected in December, according to a key survey released Friday, as industry leaders waved off concerns about the economic threat posed by Europe's debt crisis, according to dpa. The Munich-based Ifo institute's closely-watched business climate index rose from 109.3 points in November to 109.9 points this month. This represented the index's seventh straight monthly rise. Analysts had expected the indicator would nudge up to 109.5 points this month. A string of recent key data and indicators have pointed to Germany continuing to turn in a solid economic performance amid strong demand for the country's exports and a pickup in domestic demand. Economists have been revising up their growth projection for the nation after it rebounded strongly from last year's recession. Germany's central bank, the Bundesbank, said this week it expects the economy to grow by a solid 3.6 per cent this year. However, the Frankfurt-based bank expects the growth rate to slow to 2 per cent in 2011 and then slipping to 1.5 per cent in 2012.
