By Maria Martinez 
 

German business sentiment fell in October after increasing for five consecutive months, the Ifo Institute said Monday.

In view of rising coronavirus cases, German businesses are becoming increasingly worried, Ifo said.

The Ifo business-climate index came in at 92.7 points in October, compared with a downwardly revised 93.2 points in September. Economists surveyed by The Wall Street Journal had forecast it at 92.9 points.

Companies' assessment of their current situation improved slightly, rising to 90.3 points in October from 89.2 points in September.

However, companies are considerably more skeptical regarding developments over the coming months, Ifo said. Expectations declined, with the component falling to 95.0 points from a revised 97.4 points in September, Ifo said.

The Ifo index is based on a poll of about 9,000 companies in manufacturing, services, trade and construction.

Write to Maria Martinez at maria.martinez@wsj.com

(END) Dow Jones Newswires

October 26, 2020 05:25 ET (09:25 GMT)