German Ifo Business Climate rose from 86.9 to 87.3 in November, slightly below expectation of 87.5. But that is still the third consecutive increase. Current Assessment index ticked up from 89.2 to 89.4, matched expectations. Expectations index also rose from 84.8 to 85.2, missed expectation of 85.7.
By sector, manufacturing rose from -15.7 to -13.5. Services fell from -1.5 to -2.5. Construction rose from -30.8 to -29.4. Trade rose from -27.3 to -22.2.
Ifo said: “The German economy is stabilizing, albeit at a low level.”
