Economic Buzz: German ifo business climate improves in October

The German business climate continued to improve in October, rising by 0.3 points to 90.2, the Institute for Economic Research (Ifo) said in a report released on Monday.

The Current Assessment Index fell by 0.7 points from the previous month and reached 88.8. Meanwhile, the Expectations Index advanced by 1.3 percentage points from September to stand at 91.6 in the reported month.

In manufacturing, the index rose significantly. Companies assessed both their current situation and their expectations as substantially better. Both indicators returned to positive territory for the first time in more than three years, Ifo stated. Construction also recorded an improvement, while sentiment in services weakened and the trade sector remained unchanged.

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