German IFO Business Climate Index climbs to 86.9 in October vs. 85.9 expected

German IFO Business Climate Index rose to 86.9 in October. IFO Current Economic Assessment improved to 89.2 in the reported month. The headline German IFO Business Climate Index arrived at 86.9 in October, up from the previous month's reading of 85.8 while beating the marketexpectationsof 85.9. Meanwhile, the Current Economic Assessment Index rose to 89.2 points in the reported month, compared with September’s 88.7 and 88.5 estimated.

IFO president Clemens Fuest said: The German economy sees a silver lining on the horizon. Market reaction to the German IFO Survey EUR/USDis re-attempting bids on the upbeat German IFO survey. At the time of writing, the pair is trading at 1.0590, up 0.03% on the day.

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