German Ifo business climate surprises negatively in Jan

The headline German Ifo business climate surprised markets to the downside, coming in at 109.8 points in Jan versus 111.0 booked in Dec and 111.3 expectations. While the current economic assessment ticked higher to 116.9 points in the reported month, as compared to 116.6 seen last month. The figures matched estimates.

Further, the Ifo Expectations Index – indicating firms’ projections for the next six months – also surprised negatively and skid to 103.2 in Jan versus expectations of a 105.8 figure and 105.6 seen last.