FRANKFURT –– Managers in Europe’s largest economy are expected to voice more optimism about their lot following last month’s surprise fall in business confidence as the federal government unleashes billions of euros on the economy.
An economists’ poll said the headline business climate index for Germany due Monday from the country’s Ifo economics institute is forecast to rise to 88.0 points from last month’s reading of 87.7.
The expectations measure of the index for the coming six months is projected to climb to 90.0 points from 89.7, with October’s current assessment reading set to improve to 87.0 versus 86.7 in the previous month.
Purchasing managers in Germany have already expressed more confidence this month. S&P Global said Friday that its composite reading for October showed an unexpected increase with a rise to 53.8 points – a 28-month high – from 52.0 in August. The manufacturing reading added a tenth to 49.6, bringing it to closer to growth territory beyond the 50-point mark. Services surged to a 29-month high of 54.4 versus 51.5 last month.
“Germany’s private sector recorded its strongest growth for almost two-and-a-half years at the start of the fourth quarter,” S&P Global said. “Firms reported higher backlogs of work for the first time since July 2022.”
Just wait until next year…
There should be plenty more growth to come, according to Goldman Sachs: “The German government’s increased spending on infrastructure and defence is forecast to boost economic growth above its potential and above the prevailing consensus among economists for the next several years.”
It predicted growth of 1.4% in 2026 and 1.8% in 2027, citing consensus at 0.8%.
The right-centre German Chancellor Friedrich Merz and his coalition in Berlin expect to invest half a trillion euros on infrastructure and climate protection over the next 12 years and hundreds of billions on defence, a bombshell spending package to turbocharge the world’s fourth-largest economy. EU member states last week green lit Germany’s budget plans through 2031, and, more importantly, the debt they are expected to produce.
Some even see the US as partly responsible for the spending spree in the German capital as Washington becomes stingier with its aid to Ukraine and less clear about its future role in Nato. In the minds of many, US President Donald Trump and his cabinet are leaving Europe to fend for itself, bolstering those calling for a stronger military.
“The Merz government has a window of opportunity to build on this improved macro picture with reforms that lead to a lasting improvement in Germany’s economic performance,” Goldman analysts said.
German parliament approved the country’s 2025 budget in mid-September, with the cabinet already passing a draft for 2026.
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data_array.logs = data.logs;
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function check_channel_status(data) {
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function check_channel_status_response(data) {
postMessage({ action: 'CheckChannelStatusReponse', stream_status: data.stream_status.status, onair: data.stream_status.onair, connected: data.stream_status.connected });
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function join_publisher_channel(data) {
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data_array.current_page = data.current_page;
data_array.php_session_id = data.php_session_id;
data_array.from_react = data.from_react;
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socket.send(msg_string); }
postMessage({action: 'PublisherChannelJoined' });
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function session_static_info(msg) {
set_static_session_info(msg.data);
start_log();
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function connect_to_distributor(msg) {
publisher_channel = msg.data.publisher_channel;
remote_ip = msg.data.remote_ip;
socket = new WebSocket("wss://ws.livesquawk.com/ws"+distributor_server);
socket.onopen = function(event) { request_server_assignment(); };
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function session_info_interval() {
postMessage({action: 'RequestSessionInfo' });
logging_interval = setTimeout(session_info_interval,logging_interval_time);
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function server_assignment_response(data) {
assigned_server = data.selected_server;
socket.close();
connect_to_assigned_server();
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function request_server_assignment() {
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postMessage({ action: 'VisibleConsole',console_string: "Connected to server "+assigned_server });
console.log("Connected to server "+assigned_server);
postMessage({ action: 'ConnectedToAssigned' });
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postMessage({ action: 'RejoinPlayerChannel' });
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if (data.type != 'server_ping') { /* console.log(data.type); */ }
switch(data.type) {
case 'reconnect': postMessage({ action: 'VisibleConsole',console_string: "Reconnected" }); break;
case 'reload': postMessage({ action: 'Reload' }); break;
case 'start_log_response': start_log_response(data); break;
case 'application_refresh_start': application_refresh_start(data); break;
case 'application_refresh_stop': application_refresh_stop(data); break;
case 'player_log_request':
case 'check_channel_status_response': check_channel_status_response(data); break;
case 'PlayerLogRequest':
case 'new_tweet':
case 'new_latest_news':
case 'delete_report':
case 'add_report':
case 'add_ref_doc':
case 'calendar_change':
case 'calendar_insert':
case 'calendar_delete':
case 'new_note':
case 'AppStart':
case 'AppStop':
case 'BroadcasterStarted':
case 'BroadcasterStopped':
case 'added_cme_report':
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case 'added_cme_commentary':
case 'updated_cme_commentary':
case 'server_assignment_response':
case 'initial_messages':
case 'message_categories':
case 'more_messages':
case 'matched_messages':
pass_straight_to_post_message(data);
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case 'server_ping':
case 'reconnect':
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socket.onerror = function(event) {
postMessage({ action: 'VisibleConsole',console_string: "LS Socket Error" + event.type });
console.log(event);
postMessage({ action: 'LSSocketConnectionError' });
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reconnection_delay = reconnection_delay*reconnectionDelayGrowFactor;
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socket.onmessage = function(event) {};
socket.onerror = function(event) {};
socket.close(1000);
console.log('Socket Closed');
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function pass_straight_to_post_message(data) {
data.action = data.type;
postMessage(data);
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function join_player_channel(data) {
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data_array.username = data.username;
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data_array.php_session_id = data.php_session_id;
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postMessage({action: 'PlayerChannelJoined' });
playing = true;
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function start_log_response(data) {
session_info.session_id = data.log_record_id;
session_info_interval();
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function application_refresh_start(data) {
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function application_refresh_stop(data) {
if (data.app_name == session_info.application_name) { postMessage({action: 'ApplicationRefreshStop' }); }
}
function set_static_session_info(data) {
session_info.browser_codename = data.browser_codename;
session_info.browser_name = data.browser_name;
session_info.user_agent = data.user_agent;
session_info.browser_version = data.browser_version;
session_info.cookies_enabled = data.cookies_enabled;
session_info.platform = data.platform;
session_info.player_version = data.player_version;
session_info.stream = data.stream;
session_info.connection_protocol = data.protocol;
session_info.delay_target = data.delay_target;
session_info.session_email = data.session_email;
session_info.remote_ip = data.remote_ip;
session_info.php_session_id = data.php_session_id;
session_info.application_name = data.application_name;
session_info.http_referrer = data.http_referrer;
}
function start_log() {
var session_start_date = new Date();
session_start_time = session_start_date.getTime();
var months = ['Jan','Feb','Mar','Apr','May','Jun','Jul','Aug','Sep','Oct','Nov','Dec'];
var session_start_date_string = session_start_date.getDate() + " " + months[session_start_date.getMonth()] + " " + session_start_date.getFullYear();
var data_array = {};
data_array.type = 'webrtc_start_log';
data_array.remote_ip = session_info.remote_ip;
data_array.username = session_info.session_email;
data_array.php_session_id = session_info.php_session_id;
data_array.webrtc_protocol = '';
data_array.session_start_time = (session_start_time/1000).toFixed(0);
data_array.stream_name = session_info.stream;
data_array.session_start_date = session_start_date_string;
var msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
}
function update_session_info(data) {
var data_array = {};
var msg_string = '';
var current_date = new Date();
var current_time = current_date.getTime();
session_info.protocol = data.protocol;
session_info.curr_delay = (data.effective_latency / 1000).toFixed(2);
session_info.session_length = current_time - session_start_time;
session_info.ping_time = data.ping_time;
session_info.jitter = data.jitter;
session_info.packet_loss = data.packet_loss;
session_info.effective_latency = data.effective_latency;
session_info.mean_opinion_score = data.mean_opinion_score;
session_info.restarts = data.restarts;
if (socket_emits == 0) {
data_array = {};
data_array.type = 'webrtc_log_data_full';
data_array.connection_protocol = session_info.protocol;
data_array.threshold = 0;
data_array.curr_delay = session_info.curr_delay;
data_array.session_length = session_info.session_length;
data_array.date = current_time;
data_array.browser_codename = session_info.browser_codename;
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data_array.user_agent = session_info.user_agent;
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data_array.cookies_enabled = session_info.cookies_enabled;
data_array.platform = session_info.platform;
data_array.player_version = session_info.player_version;
data_array.stream = session_info.stream;
data_array.restarts = session_info.restarts;
data_array.delay_target = 0;
data_array.op_sys = '';
data_array.flash_version = '';
data_array.remote_ip = session_info.remote_ip;
data_array.http_referrer = session_info.http_referrer;
data_array.php_session_id = session_info.php_session_id;
data_array.user_email = session_info.session_email;
data_array.webrtc_protocol = session_info.protocol;
data_array.ping_time = session_info.ping_time;
data_array.jitter = session_info.jitter;
data_array.packet_loss = session_info.packet_loss;
data_array.effective_latency = session_info.effective_latency;
data_array.mean_opinion_score = session_info.mean_opinion_score;
data_array.session_id = session_info.session_id;
msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
}
else {
data_array = {};
data_array.type = 'webrtc_log_data';
data_array.session_id = session_info.session_id;
data_array.php_session_id = session_info.php_session_id;
data_array.connection_protocol = session_info.protocol;
data_array.restarts = session_info.restarts;
data_array.threshold = 0;
data_array.curr_delay = session_info.curr_delay;
data_array.session_length = session_info.session_length;
data_array.date = current_time;
data_array.webrtc_protocol = session_info.protocol;
data_array.ping_time = session_info.ping_time;
data_array.jitter = session_info.jitter;
data_array.packet_loss = session_info.packet_loss;
data_array.effective_latency = session_info.effective_latency;
data_array.mean_opinion_score = session_info.mean_opinion_score;
data_array.stream = session_info.stream;
msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
}
socket_emits++;
if (socket_emits == 100) { socket_emits = 0; }
}
- PMIs rise
- Investment to underpin growth
- Data due Monday at 09:00 GMT / 10:00 CET
By Eric Culp, European Editor
LiveSquawk News
@eculp.bsky.social
@EricCulpLS
24 October 2025 | 13:50 GMT
FRANKFURT –– Managers in Europe’s largest economy are expected to voice more optimism about their lot following last month’s surprise fall in business confidence as the federal government unleashes billions of euros on the economy.
An economists’ poll said the headline business climate index for Germany due Monday from the country’s Ifo economics institute is forecast to rise to 88.0 points from last month’s reading of 87.7.
The expectations measure of the index for the coming six months is projected to climb to 90.0 points from 89.7, with October’s current assessment reading set to improve to 87.0 versus 86.7 in the previous month.
Purchasing managers in Germany have already expressed more confidence this month. S&P Global said Friday that its composite reading for October showed an unexpected increase with a rise to 53.8 points – a 28-month high – from 52.0 in August. The manufacturing reading added a tenth to 49.6, bringing it to closer to growth territory beyond the 50-point mark. Services surged to a 29-month high of 54.4 versus 51.5 last month.
“Germany’s private sector recorded its strongest growth for almost two-and-a-half years at the start of the fourth quarter,” S&P Global said. “Firms reported higher backlogs of work for the first time since July 2022.”
Just wait until next year…
There should be plenty more growth to come, according to Goldman Sachs: “The German government’s increased spending on infrastructure and defence is forecast to boost economic growth above its potential and above the prevailing consensus among economists for the next several years.”
It predicted growth of 1.4% in 2026 and 1.8% in 2027, citing consensus at 0.8%.
The right-centre German Chancellor Friedrich Merz and his coalition in Berlin expect to invest half a trillion euros on infrastructure and climate protection over the next 12 years and hundreds of billions on defence, a bombshell spending package to turbocharge the world’s fourth-largest economy. EU member states last week green lit Germany’s budget plans through 2031, and, more importantly, the debt they are expected to produce.
Some even see the US as partly responsible for the spending spree in the German capital as Washington becomes stingier with its aid to Ukraine and less clear about its future role in Nato. In the minds of many, US President Donald Trump and his cabinet are leaving Europe to fend for itself, bolstering those calling for a stronger military.
“The Merz government has a window of opportunity to build on this improved macro picture with reforms that lead to a lasting improvement in Germany’s economic performance,” Goldman analysts said.
German parliament approved the country’s 2025 budget in mid-September, with the cabinet already passing a draft for 2026.
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