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German Ifo business climate rises to 4-month high in September

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Investing.com -

Investing.com - German business confidence improved unexpectedly in September, rising to the highest level in four months, industry data showed on Thursday.

In a report, the German research institute, Ifo said its Business Climate Index rose to a seasonally adjusted 108.5 this month from a reading of 108.4 in August, beating forecasts for 108.0.

The Current Assessment Index declined to 114.0 in September from 114.8 a month earlier and below expectations for 114.7.

The Business Expectations Index, which measures attitudes toward business prospects over the next six months, rose to 102.3 this month from 102.2 in August, compared to estimates for a reading of 101.5.

The monthly index is based on a survey of around 7,000 German firms in the manufacturing, construction, wholesale and retail sectors.

EUR/USD was trading at 1.1221 from around 1.1211 ahead of the release of the data, while EUR/GBP was at 0.7347 from 0.7341 earlier.

The Investing.com Euro Index, which tracks the single currency against a basket of six major rivals, was at 89.56, compared to 89.45 ahead of the report.

Meanwhile, European stock markets were modestly lower. Germany's DAX shed 0.1%, the EURO STOXX 50 dipped 0.3%, France's CAC 40 slumped 0.4%, while London's FTSE 100 declined 0.3%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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