(MENAFN) German Ifo Business Climate Index for industry and trade dropped to 108.2 points in October from 108.5 points in the previous month.
The climate index in manufacturing fell for three straight months, and strangely the Volkswagen scandal has had no impact on the German automotive industry.
Firms were marginally less satisfied with their current business situation than in September, however, optimistic view about future business continued to grow.
The Ifo Business Climate Index is the most important barometer for the German economy and is based on about 7,000 monthly survey responses from local firms.
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