FXStreet (Mumbai) – Business sentiment in Europe’s largest economy pointed to an improving situation with a reading that outpaced market forecasts.
The headline Ifo Business Climate Index came in at 108 points during the seventh month of the year, above the 107.4 booked in June.
Markets had bet a slight increase to 107.5 points in the reported period. In June, the index saw the first major decline after rising for several months.
Meanwhile, the Current Assessment sub-survey, indicating current conditions in the euro area’s number one economy, booked 113.9 points, after June’s figure of 113.1 and beat forecasts.
Moreover, the Ifo Expectations Index – indicating firms’ projections for the next six months – booked 102.4, from 102.0 in June, after estimates had called for such a reading.
(Market News Provided by FXstreet)