German Ifo business morale unexpectedly improves in November

The headline German Ifo business climate unexpectedly improved in November, coming in at 117.5 points versus last month's 116.8 (revised higher from 116.7) and expectations of 116.6. Meanwhile, the current economic assessment surprised to the downside, arriving at 124.4 points in the reported month, as compared to last month's 124.8 and 125.0 anticipated.

The Ifo Expectations Index – indicating firms’ projections for the next six months bettered expectations, arriving at 111.0 in November versus expectations of 108.9 and 109.2 (revised higher from 119.1) recorded in Oct.