Coming up at 0900GMT, we get the IFO surveys from Germany for October:
IFO Business Climate
- expected is 104.5, prior 104.7
IFO Current Assessment
- expected is 110.0, prior was 110.5
IFO Expectations
- expected is 99.2, prior was 99.3
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The IFO has been weak (weaker than expected – see the graph above with results (red line) for past months consistently below what market surveys have been forecasting (the green line). Having said this, the previous few months results are at least consistent with modest German growth. Economists are generally expecting some sort of stabilisation for this measure in coming months (last week’s German PMI is pointing to some improvement … but on the other hand the ZEW is not).
