German October IFO business climate surprises positively

The headline German Ifo business climate surprised to the upside, coming in at 116.7 points for October versus last month's 115.3 (revised higher) and expectations of 115.2. Meanwhile, the current economic assessment also improved to 124.8 points in the reported month, as compared to last month's 123.6 and 123.5 anticipated.

The Ifo Expectations Index – indicating firms’ projections for the next six months bettered expectations, arriving at 109.1 in October versus expectations of 107.3 and 107.5 recorded in September.