German IFO Business Climate Index declines to 84.7 in December vs. 85.6 expected

German IFO Business Climate Index misses estimates with 84.7 in December.
The IFO Current Economic Assessment Index rose to 85.1 in the reported month.

Dhwani Mehta FXStreet

The headline German IFO Business Climate Index dropped to 84.7 in December from 85.6 in November. The data came in below the consensus 85.6 print.

Meanwhile, the Current Economic Assessment Index rose to 85.1 in the same period from 84.3 in November, beating the estimated 84.0 figure.

The IFO Expectations Index, which indicates firms’ projections for the next six months, fell sharply to 84.4 in December vs. 87.0 in November and 87.5 expected.

Market reaction to the German IFO Survey

EUR/USD has come under fresh selling pressure following the mixed German IFO survey. At the time of writing, the pair is trading 0.27% lower on the day at 1.0480.

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Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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