Germany: Business confidence slips in October
Sentiment among German businesses inched down from 103.7 points in September to 102.8 in October, although remained above the 100-point mark that separates optimism from pessimism.
The construction sector was the only sector to record an improvement in sentiment from the previous month in October, thanks to an improvement in the assessment of the current business situation. However, sentiment in the manufacturing, trade and services sectors turned less optimistic. Less satisfaction with the current business situation drove the deterioration in both manufacturing and services industries. Meanwhile, sentiment in the trade sector fell on sliding expectations of the current and expected business situation.