German IFO business climate rose to 7-month high but below expectations
Today data on German business climate came in at 10:00 GMT. The index rose to a 7-month high easing concerns over the health of Eurozone's biggest economy although being below expectations for a stronger increase. The IFO-index is based on a survey conducted by a munich-based research institute polling 7,000 German firms in the manufacturing, construction, wholesale and retail sectors.
The IFO - Business Climate for February rose from 106.7 in the previous month to seasonally adjusted 106.8 points, below expectations of an increase to 107.4.
The IFO-Expectations, measuring business prospects came I at 102.5 from previous 102 points. Analysts expected an increase to 103.0.
The IFO Current Assessment came in at 111.3, declining from previous 111.7 points. Analyst expected a reading of 112.7 points.
|remaining time till the new event being published|
- U.S., Japan may need more tools to shore up banking system - Fed's Rosengren
- UK must be clear what a no-deal Brexit would mean - Bank of England Governor Carney
- German output growth remains moderate in June - IHS Markit
- Eurozone composite PMI hits seven-month in June - IHS Markit