German business confidence in the country’s economy grew
Experts of the IFO Institute according to the results of a survey of about 7,000 executives of German companies reported that five months of decline in business circles in Germany to the lowest since November 2012 gave way to their rise in September. According to the institute, the index of entrepreneurs' confidence in the German economy was 94.6 points, rising from 94.3 points in August. The growth of the index exceeded the expected increase by economists to 94.5 points. The attitude towards the current situation has also improved more than forecasts. The corresponding indicator increased to 98.5 points from 97.3 points with the forecast of experts at 96.9 points. At the same time, the indicator, which determines expectations for the short term, fell to 90.8 points from 91.3 points a month earlier. Economists had expected it to rise to 92 points. Sentiment among service and construction companies improved, while the trade sector noted a deteriorating business climate.