German business significantly grew since April 2012

(MenaFn) German business progress reached its highest in sixteen months in August, as the country's manufacturing was the reason behind the rise, according to Gulf Daily News. A survey announced that 7.000 firms performed better than expected to reach the highest level since April last year. Ifo economist Kai Carstensen said: "The German economy moved up a gear. Companies are more satisfied with their current business situation. Their optimism regarding future business developments - although slightly cautious - also grew."