- German IFO Business Climate Index missed estimates with 87.0 in July.
- The IFO Current Economic Assessment Index declined to 87.1 in the reported month.
The headline German IFO Business Climate Index came in at 87.0 in July, falling sharply from the June figure of 88.6. The market forecast was 88.9.
Meanwhile, the Current Economic Assessment Index declined from 88.3 in June to 87.1 in the same period, missing the expected 88.5 print.
The IFO Expectations Index – indicating firms’ projections for the next six months, also dropped to 86.9 in July vs. 88.8 in June and 89.0 expected.