German business sentiment deteriorated slightly

The German business sentiment index of the ifo Institute for Economic Research in October declined slightly. The German companies were less satisfied with their current business situation, however, are more optimistic regarding the outlook for the future.

According to the Institute's report released on Monday the business sentiment index fell to 108.2, from the 108.5 points of September. The analysts expected worse: 107.8 points.

The sub indicator of the current economic climate index declined to 112.6 points from the 114.0 points of the previous month. Analysts expected 113.5 points. (MTI)