IFO: Germany's business confidence rose in October.

Jinshi data news on October 25th, a survey released on Friday showed that the improvement in German business confidence in October was better than expected, providing hope for the country’s economy to get some relief in the difficult struggle with industrial difficulties and weak global demand by the end of the year. The German think tank IFO stated that the IFO Business Climate Index rose from 85.4 last month to 86.5 in October, with market expectations at 85.6. The recovery of business confidence ended four consecutive months of decline, which sounds like a more positive signal for the largest economy in Europe. Germany has long been striving to resist recession. PMI data released on Thursday showed a further decline in business activity in October, despite a slower pace. Economic data for the third quarter will be released next week, and a series of negative data indicate that after a 0.1% decline in the second quarter, a technical recession (defined as two consecutive quarters of contraction) has become inevitable. The German government expects a 0.2% contraction in output for the whole year of 2024, marking the second consecutive year of decline for Germany and consolidating its lagging position among the major countries in the euro area.