German business climate cools down

Wednesday, 25 July 2012 09:39

In a report, the German research institute, Ifo said its Business Climate Index fell by 1.9 points to a seasonally adjusted 103.3 in July from a reading of 105.2 in June, whose figure was revised down from 105.3.
According to the German research institute Business Climate Index fell by 1.9 points, down to 103.3.The analysis only expected 0.5 fell to 104.7.Also the Current Assessment Index
Analysts had been dropped by 2.3 points. What shows a harsh next six months, is that the Business Expectation Index was dropped a 1.6 points as well.

After the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.27% to trade at 1.2095.