The ifo German business sentiment index did not change in October

The business sentiment index of the Ifo Economic Research Institute in Germany remained unchanged in October, indicating the stabilization of Europe’s largest economy after the decline of recent months.

The Munich-based institute announced on Friday that the index was at 94.6 points in October, unchanged from September. In August, the index stood at a low of seven years, at 94.3 points.

Analysts were expecting a slight decline, expecting the business sentiment index to drop to 94.5 points in October. A year ago, the indicator stood at 102.8 points. (MTI)