German Ifo business morale unexpectedly improves in Oct, beats estimates

The headline German Ifo business climate rose unexpectedly and surpassed expectations, coming in at 110.5 points in Oct versus 109.5 booked in Sept. While the current economic assessment ticked higher to 115.0 points in the reported month, as compared to 114.7 in Sept and 114.9 expectations.

Further, the Ifo Expectations Index – indicating firms’ projections for the next six months – also surprised positively and rose to 106.1 in Oct versus expectations of an unchanged figure of 104.5 seen last.