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- German IFO Business Climate Index declines to 84.7 in December vs. 85.6 expected
German IFO Business Climate Index declines to 84.7 in December vs. 85.6 expected
- German IFO Business Climate Index misses estimates with 84.7 in December.
- The IFO Current Economic Assessment Index rose to 85.1 in the reported month.
The headline German IFO Business Climate Index dropped to 84.7 in December from 85.6 in November. The data came in below the consensus 85.6 print.
Meanwhile, the Current Economic Assessment Index rose to 85.1 in the same period from 84.3 in November, beating the estimated 84.0 figure.
The IFO Expectations Index, which indicates firms’ projections for the next six months, fell sharply to 84.4 in December vs. 87.0 in November and 87.5 expected.
Market reaction to the German IFO Survey
EUR/USD has come under fresh selling pressure following the mixed German IFO survey. At the time of writing, the pair is trading 0.27% lower on the day at 1.0480.
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