Germany’s September business confidence at 8-month low

Written by Miroslav Marinov

Miroslav Marinov, a financial news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market, as currently his focus is set on the major currencies of eight developed nations worldwide.

, | Updated: October 30, 2024

The Ifo Business Climate gauge for Germany decreased for a fifth straight month in September, data by the Ifo Institute showed.

The index came in at a reading of 85.4 in September, down from 86.6 in August. It has been the gauge’s lowest level since January.

The latest reading was also below market consensus of 86.

The sub-index of business expectations decreased to a level of 86.3 in September from 86.8 in August.

At the same time, the sub-index of current conditions dropped to 84.4 in September from 86.5 in August.

The Euro was last little changed on the day against the British Pound, with the EUR/GBP currency pair trading at 0.8324.

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