Latest data released by Ifo - 24 November 2020
- Prior 92.7; revised to 92.5
- Expectations 91.5 vs 93.5 expected
- Prior 95.0; revised to 94.7
- Current assessment 90.0 vs 87.5 expected
- Prior 90.3; revised to 90.4
Slight delay in the release by the source. The headline may be slightly better than estimates but business morale still reflects a drop with the expectations component also highlighting a more pessimistic outlook towards the economy as we head towards the year-end.
This just about sums up economic sentiment in the euro area at the moment, though Germany is still arguably faring better than others considering that its manufacturing sector is seen holding up despite tighter restrictions being introduced.
