Germany Ifo Business Climate rose from 84.5 to 86.3 in November, above expectation of 85.0. Current Assessment Index rose from 84.2 to 93.1, below expectation of 93.6. Expectations Index rose from 75.9 to 80.0, above expectation of 77.0.
By sector, manufacturing rose from -15.4 to -11.7. Service rose from -8.5 to -5.4. Trade rose from -31.9 to -26.9. Construction rose from -24.0 to -21.6.
Ifo said, “While companies were somewhat less satisfied with their current business, pessimism regarding the coming months reduced sharply. The recession could prove less severe than many had expected.”
