Marketwatch reports that according to the report from Ifo Institute, German business sentiment fell in November for the second consecutive month.

The Ifo business-climate index came in at 90.7 points, compared with a downwardly revised 92.5 points in October. Economists had forecast it at 90.6 points.

The expectations component declined to 91.5 points from a revised 94.7 points in October, Ifo said.

The drop came due mainly to companies being considerably more skeptical regarding developments over the coming months, as a second wave of coronavirus has interrupted Germany's economic recovery, Ifo said.

Companies' assessment of their current situation also deteriorated, falling to 90.0 points in November from 90.4 points in October.