German business sentiment reached a record level

In November, the Business Sentiment Index of the Institute of Economics at the University of Munich, achieved a record.

In November, the ifo German business sentiment index rose to 117.5 points from the 116.8 points of October.

The market expected 116.6 points for November.

The increase in the indicator was due to the improvement in the outlook, because the current situation indicator has not improved among business people: it dropped to 124.4 from the 124.8 points of the previous month. However, the expectations for the next six months indicator rose to 111.0 points in November from the 109.2 points of October.