Germany Ifo Business Climate rose to 93.4 in September, up from 92.6, slightly below expectation of 93.8. Current Assessment rose to 89.2, up from 87.9, below expectation of 89.5. Expectations index rose to 97.7, up form 97.5, below expectation of 98.0. Ifo said: “The companies once again assessed their current situation as better than in the previous month. They also expect their business to recover further. The German economy is stabilizing despite rising infection numbers.”
Manufacturing has a noticeable increase from -5.6 to -0.2. However, Services dropped back from 7.7 to 6.9, fourth decline in a row. Trade turned positive, from -4.8 to 0.3. Construction also improved from 0.0 to 3.3.