German business morale unchanged in October - Ifo

The skyline of banking district is photographed in Frankfurt, Germany, April 9, 2019. REUTERS/Kai Pfaffenbach/Files
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KAI PFAFFENBACH(Reuters)
BERLIN (Reuters) – German business morale held steady in October and Europe’s largest economy is stabilising after contracting earlier in the year, a survey showed on Friday.
The Ifo institute said its business climate index was unchanged from the prior month in October at 94.6. The October reading compared with a consensus forecast for 94.5.
“The German economy is stabilising,” Ifo President Clemens Fuest said in a statement.
(Writing by Paul Carrel; Editing by Michelle Martin)