The recent unexpected drop in the Ifo business climate index from 88.6 to 87.0 has sent shockwaves through the economic landscape, dampening hopes of a swift recovery. Despite some relief
The German IFO Business Climate Index missed estimates, coming in at 87.0 in July, compared to the market forecast of 88.9. Additionally, the IFO Current Economic Assessment Index declined to
Germany's Manufacturing PMI dropped to 42.6 in July vs. 44.0 anticipated. Services PMI for the German economy fell to 52.0 in July vs. 53.1 estimate. EUR/USD falls further below 1.0850