- German IFO Business Climate Index came in at 101.8 in June.
- IFO Current Economic Assessment rose to 99.6 this month.
- June German IFO Expectations Index arrived at 104.00
The headline German IFO Business Climate Index rose to 101.8 in June versus last month's 99.2, beating the consensus estimates of 100.6.
Meanwhile, the Current Economic Assessment arrived at 99.6 points in the reported month as compared to last month's 95.7 and 97.8 anticipated.
The IFO Expectations Index – indicating firms’ projections for the next six months, improved further to 104.00 in June from the previous month’s 102.9 reading and better than the market expectations of 103.9.
Market reaction
EUR/USD is hovering around 1.1930, unimpressed by the above German data, as the US dollar bounces off daily lows.
About German IFO
The headline IFO business climate index was rebased and recalibrated in April after the IFO research Institute changed series from the base year of 2000 to the base year of 2005 as of May 2011 and then changed series to include services as of April 2018. The survey now includes 9,000 monthly survey responses from firms in the manufacturing, service sector, trade and construction.