German ifo index improves
The German ifo index has ended a six month climb down, with the business climate index increasing from 103.2 to 104.7 points as of November.
Business confidence improved in the manufacturing sector, increasing from 1.5 to 3.9 points, while the decline in construction slowed down from -7.2 points to -5.9 points.
The strongest leap took place in the wholesale industry, where the index rose from -0.2 to 6.1 points month on month. Meanwhile, the optimism in the service sector declined gradually from 33.9 to 28.4 points.
The overall outlook for the coming six months improved from 98.3 in October to 99.7 points in November.