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German business confidence up in Dec.

MUNICH, Germany, Dec. 18 (UPI) -- German business confidence unexpectedly spiked in December, raising hopes for an overall European economic rebound, the Financial Times reported.

The Munich-based LFO institute said its business climate index had risen to 96.2 in December, up from 94.1 in November.

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Economists had earlier predicted a fall after recent data suggested higher energy costs and the strength of the euro against the dollar were damping economic activity.

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