Mubasher: German business sentiment marginally improved in November, suggesting that Europe’s biggest economy was still resilient after shrinking earlier in the year.

The German business climate index rose slightly to 95 points in November, from the revised reading of 94.7 in October, data released by the Ifo economic institute showed on Monday.

Assessments of the current conditions improved in the services and trade sectors, while they deteriorated for manufacturing and construction segments.

Moreover, Ifo’s gauge of current conditions ticked up to 97.9 in November, from 97.8 in the preceding month, while expectations index rose to 92.1.

German economy contracted in the second quarter of the year, but it expanded in the third quarter, avoiding a technical recession.

The Ifo institute projected Germany’s gross domestic product (GDP) to come in at 0.2% in the fourth quarter.

By 11:26 am GMT, the USD/EUR pair inched down by 0.06% to $1.1014.