- The German IFO Business Climate Index stood at 92.6 in August.
- IFO’s current economic valuation stood at 87.9 this month.
- The German IFO expectations index for August came in at 97.5.
The headline IFO German Business Climate Index hit 92.6 in August, stronger than last month’s 90.5 while beating consensus estimates of a reading of 92.2.
Meanwhile, the current economic valuation came in at 87.9 points in the reported month compared to 84.5 and 87.0 expected last month.
On the other hand, the IFO Expectations Index – showing company projections for the next six months, stood at 97.5 for August, up from 97.0 the previous month and lower than market expectations of 98.0.
About the German IFO
The IFO Business Climate Index was rebased and recalibrated in April after the IFO Research Institute changed the series from the base year 2000 to the base year 2005 from May 2011 and then changed Standard to include services from April 2018. The survey now includes 9,000 responses to monthly business surveys in the manufacturing, services, trade and construction sectors.
EUR / USD is trading near daily highs of 1.1835 on German IFO mixed data, as general US dollar weakness continues to underpin. The spot is up 0.40% on the day.