Germany October Ifo business climate index 86.5 vs 85.6 expected

• Prior 85.4
• Current conditions 85.7 vs 84.4 expected
• Prior 84.4
• Expectations 87.3 vs 86.8 expected
• Prior 86.3

It’s a beat all around as German business morale picks up in October, even the outlook index. That being said, all of this has to really translate more into the hard data for it to convince of better fortunes going into next year. While the PMI data yesterday was also better than expected, the German manufacturing sector remains in recession territory with not much prospects of any imminent turnaround.

This article was written by Justin Low at www.forexlive.com.