German business morale unchanged in October - Ifo

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)