German IFO Business Climate Unexpectedly Improves in January

The headline German IFO Business Climate Index unexpectedly jumped to 95.7 in January versus last month’s 94.7 and the consensus estimates of 94.7. Meanwhile, the Current Economic Assessment dropped to 96.1 points in the reported month as compared to last month’s 96.9 and 96.1 anticipated. The IFO Expectations Index – indicating firms’ projections for the next six months, rose to 95.2 in January from the previous month’s 92.6 reading and much better than the market expectations of 93.0.