The German ifo business sentiment index at record level

Instead of the expected minimal deterioration, the October German business sentiment index of the Munich-based Institute for Economic Research rose significantly to record levels.

The October business mood index rose to 116.7 points instead of expected 115.2 points after September’s 115.3 points.

Both sub- indexes of the sentiment index increased more than expected. The current business environment rating index rose to 124.8 points in October from the 123.7 points of September. Analysts expected 123.5 points. (MTI)