German business confidence hits two-year high in October

German business confidence has hit a two-year high, the Ifo economic institute said Tuesday, suggesting the country had shaken off post-Brexit blues, but analysts warned of a possible slowdown ahead. The Munich institute's headline business confidence index hit 110.5 points in October, up one point from the September reading of 109.5, and the highest level since April 2014. "The upturn in the German economy is gathering impetus," Ifo president Clemens Fuest said in a statement.