German business confidence climbs for fifth month in September

German business confidence climbed for a fifth consecutive month in September to hit its highest level in one and a half years, according to a survey released Tuesday. The Munich-based Ifo economic institute said its closely watched survey rose to 107.7 points this month from 107.5 in August. But the gain was less than the rise to 108 points that analysts had forecast. Based on a survey of 7,000 industry leaders, the index now stands at its highest level since April 2012, the (DPA) news agency reported. While the Ifo index's gauge measuring industry leaders' expectations of business expectations six months down the track edged up, the survey component gauging current conditions slipped.