Ifo’s German business climate index rises to 90.2 in October
The index was 89.9 in September. Ifo says better expectations drove the October rise, though firms rated their current conditions slightly worse.
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The index was 89.9 in September. Ifo says better expectations drove the October rise, though firms rated their current conditions slightly worse.
Ifo’s German Business Climate Index rose to 90.2 points in October from 89.9 in September. Beneath that overall rise, manufacturers reported improving conditions and expectations, while service firms reported weaker confidence.
Ifo said more optimistic expectations drove the national increase, even as firms rated their current conditions slightly worse. It said the economic recovery was continuing, an assessment carried in the Guardian’s business coverage.
Euronews Business said manufacturers’ assessments of both their current conditions and expectations returned to positive territory for the first time in more than three years. Service firms reported weaker confidence because they were less satisfied with current conditions, although their expectations improved.
The index records firms’ assessments, not measured growth in economic output. Incoming manufacturing orders increased, and firms planned to expand production; that expansion remains a plan rather than a measured rise in output.
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