German August Ifo business climate surprises positively

The headline German Ifo business climate surprised to the upside and came-in at 115.9 points for August, down from 116.0 recorded last month but still better than expectations of 115.5. Moreover, the current economic assessment fell short of expectations and dipped to 124.6 points as compared to last month’s 125.5 (revised higher from 125.4 earlier) and 125.0 anticipated.

The Ifo Expectations Index – indicating firms’ projections for the next six months also bettered expectations, arriving at 107.9 in August versus expectations to 106.8 and 107.63 seen last.