German IFO Institute released the latest set of its sentiment indices today at 9:00 pm BST. Data for August was expected to show a drop from 87 to 86 in the headline Business Climate index, with both subindices - Current Conditions and Expectations - declining.
Actual report turned out to be a turned out to be a positive surprise, with the headline Business Climate index coming in at 86.6. This is a smaller drop than expected, but still a drop. Beat was driven by Expectations subindex ticking lower from 86.9 to 86.8, instead of dropping to 85.8 as was expected. Current Conditions index matched expectations and dropped from 87.1 to 86.5.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appMarket reaction was muted, with no major moves being spotted on EUR or European indices. EURUSD ticked lower, but scale of the move was barely noticeable. DE40 also ticked lower, but has since recovered and is now trading flat compared to pre-release levels.
Germany, IFO indices for August
- Business Climate: 86.6 vs 86.0 expected (87.0 previously)
- Current Conditions: 86.5 vs 86.5 expected (87.1 previously)
- Expectations: 86.8 vs 85.8 expected (86.9 previously)
Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
