German business morale rose more than expected in December, a survey showed on Wednesday, in a further sign that a manufacturing crisis in Europe’s largest economy could be bottoming out after overall output shrank earlier in the year. The Ifo institute said its business climate index rose to 96.3 in December from an upwardly revised 95.1 in November. The December reading beat a Reuters consensus forecast of 95.5.“The German economy is heading into the New Year with more confidence,” Ifo President Clemens Fuest said in a statement. (full story)