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German Ifo Institute released its business confidence figures for Germany on Thursday. German business confidence index rose to 108.4 in September from 108.3 in August, beating expectations for a decline to 108.0.
"The German economy is proving robust. In manufacturing the business climate continued to deteriorate slightly. Manufacturers scaled back their very good assessments of the current business situation, but were nevertheless more optimistic about short-term business developments. More companies plan to ramp up production in the months ahead," Ifo President Hans-Werner Sinn said.
The Ifo current conditions index declined to 114.0 from 114.8. Analysts had expected the index to fell to 114.7.
The Ifo expectations index rose to 103.3 from 102.2. Analysts had expected the index to decrease to 101.5.
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