German Ifo business climate improved to 103.8 in August, up from 101.7, beat expectation of 102.0. Current assessment index rose to 106.4, up from 105.3 and beat expectation of 105.5. Expectations index also rose to 101.2, up from 98.2 and beat consensus of 98.5. .
Ifo President Clemens Fuest noted in the release that “The companies were once again more satisfied with their current business situation. Business expectations were revised noticeably upwards. In addition to a robust domestic economic situation, the truce in the trade conflict with the US contributed to improved business confidence. The German economy is performing robustly. Current figures point to economic growth of 0.5 percent in the third quarter.”
