A survey by the German Economic Research Institute showed that in October, German companies' confidence improved. Economists from Deutsche Bank said it's worth noting that the survey results indicate the emergence of a budding recovery in the manufacturing sector, which has been a major drag on economic growth. In addition, the IFO and PMI surveys may underestimate the current economic situation. Weaker survey results in the third quarter suggest an economic recession. However, economists wrote in a report that the economy is more likely to stagnate during this period. "We believe that there is no consensus yet on whether the German economy will contract in 2024." They added that given the upcoming crucial usa elections, it may be premature to infer these positive sentiment signals now.