Germany October Ifo Index Rises to 90.2 as Manufacturing Sentiment Turns Positive

Germany's Ifo Business Climate Index improved to 90.2 in October from 89.9, topping forecasts and marking its sixth consecutive monthly gain. The advance was driven by business expectations, which jumped to 91.6—its highest level since February 2022—from 90.4 prior. Manufacturing sentiment turned positive for the first time in over three years, rising from -2.7 to +1.2. However, the current conditions index dropped to 88.8 from 89.5, and services fell to -1.2, highlighting an uneven recovery as markets price 90% odds of unchanged ECB rates.