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German Ifo business climate rises to 6-month high in January

Economic Indicators Jan 26, 2015 04:02AM ET
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© Reuters. German Ifo business climate rises more than expected in January
 
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Investing.com - German business confidence improved to the highest level in six months in January, easing concerns over the health of the euro zone’s largest economy, industry data showed on Monday.

In a report, the German research institute, Ifo said its Business Climate Index rose to a seasonally adjusted 106.7 this month, above forecasts for 106.3 and up from a reading of 105.5 in December.

The Current Assessment Index increased to 111.7 in January, beating expectations for a reading of 110.7 and up from 110.0 in December.

The Business Expectations Index, which measures attitudes toward business prospects over the next six months, improved to 102.0 this month from 101.1 in December, missing forecasts for 102.5.

The monthly index is based on a survey of around 7,000 German firms in the manufacturing, construction, wholesale and retail sectors.

EUR/USD was trading at 1.1229 from around 1.1236 ahead of the release of the data, while EUR/GBP was at 0.7483 from 0.7484 earlier.

Meanwhile, European stock markets were mixed. Germany's DAX tacked on 0.2%, the EURO STOXX 50 shed 0.2%, France’s CAC 40 dipped 0.2%, while London’s FTSE 100 declined 0.3%.

German Ifo business climate rises to 6-month high in January
 

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