The German IFO business sentiment index improved unexpectedly

Instead of the expected decline the German ifo Economic Research Institute’s German economic sentiment index increased in November.

The ifo business climate index rose to 104.7 points in November, from the 103.2 points of October. Analysts expected 103.0 points. The index increased for the first time in the past half a year.

The component of the index that quantifies the current economic environment rose to 110.0 points from108.4 points.

The component of the index that quantifies the future expectations of the surveyed experts increased to 99.7 points, from 98.3 points. (MTI)