Ifo business climate: economists expect little change in October
The Ifo institute publishes its key business sentiment gauge at 10 a.m. today. In September, sentiment rose to its highest level since May 2023.
Archive image · Photo: Carl Steinbeißer / Wikimedia Commons, CC BY-SA 3.0 (cropped and resized)
Munich's Ifo institute releases its October business climate index for Germany at 10 a.m. today. Analysts expect a slight rise to 90.1 points, according to a forecast compiled by Dow Jones Newswires; other consensus estimates stand at 89.8. Business expectations are forecast to dip slightly to 90.0, while the assessment of current conditions is seen improving to 89.9.
In September, the index rose to 89.9 points from 88.8 in August, its highest level since May 2023 according to Trading Economics. Expectations stood at 90.4 and current conditions at 89.5. In manufacturing, the climate improved mainly on better expectations, while service firms were more satisfied with current business; construction was broadly unchanged despite the prospect of higher interest rates.
On the same day, German Economy Minister Katharina Reiche and her Polish counterpart Andrzej Domański meet in Warsaw at the German-Polish Economic Forum, with a joint news conference scheduled for 10 a.m.