- German IFO Business Climate Index beats estimates within October.
- The IFO Current Economic Assessment Index rose to 85.7 in the reported month.
The headline German IFO Business Climate Index rebounded to 86.5 in October from 85.4 in September. The data came in above the estimated 85.6 print.
Meanwhile, the Current Economic Assessment Index rose to 85.7 in the same period from 84.4 registered in September, beating the market forecast of 84.4.
The IFO Expectations Index – indicating firms’ projections for the next six months, climbed to 87.3 in October vs. 86.3 in September and 86.8 anticipated.
Market reaction to the German IFO Survey
EUR/USD ignores the upbeat German IFO survey. At the time of writing, the pair is trading 0.04% lower on the day at 1.0820.
About German IFO
The headline IFO business climate index was rebased and recalibrated in October after the IFO Research Institute changed the series from the base year of 2000 to the base year of 2005 as of October 2011 and then changed series to include services as of October 2018. The survey now includes 9,000 monthly survey responses from firms in the manufacturing, service sector, trade and construction.
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