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German IFO Business Climate Index declines in September

Adel 25 September, 2023 4:47 pm Market Update

The main German IFO Business Climate Index fell to 85.7 in September, down from 85.8 in August. This number was slightly higher than the market forecast of 85.2.

The Current Economic Assessment fell to 88.7 from 89.0 in the same time, but the Expectations Index, which measures firms’ expectations for the next six months, rose slightly to 82.9 from 82.6.

The market’s reaction
The EUR/USD pair had no immediate reaction to the news, and was last seen trading slightly lower on the day at 1.0640.

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