- The German IFO business climate index stood at 92.3 in June.
- The current IFO economic assessment was lowered to 99.3 this month.
- The German IFO index of expectations for June came in at 85.8
The German IFO business climate index fell sharply to 92.3 in Junecompared to 93.0 last month and consensus estimates of 92.9.
For its part, the current evaluation of the economy was lowered to 99.3 points in the reported month, compared to 99.5 in May and the 99.1 expected.
The IFO expectations index, which indicates companies’ forecasts for the next six months, unexpectedly fell to 85.8 points in June, compared to 86.9 the previous month and the market forecast of 87.4.
About the German IFO
The IFO Business Climate Index published by the Ifo Institute is closely watched as a leading indicator of current conditions and business expectations in the Eurozone. The institute surveys more than 7,000 companies about their assessment of the business environment and their short-term plans. A reading above the market consensus will increase the demand for the euro.
Source: Fx Street
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