Germany Ifo Business Climate ticked down from 84.4 to 84.3 in October, above expectation of 84.0. Current Assessment index dropped from 94.5 to 94.1, above expectation of 92.5. Expectations index rose from 75.3 to 75.6, above expectation of 74.9.
By sector, manufacturing fell from -14.3 to -15.9. Services rose slightly from -8.9 to -8.6. Trade rose from -32.3 to -31.9. Construction dropped from -21.9 to -24.9.
Ifo said: “Companies were less satisfied with their current business. Their expectations improved, but they are still worried about the coming months. The German economy is facing a difficult winter.”
