Germany May Ifo business climate index 91.7 vs 93.0 expected

• Prior 93.6; revised to 93.4
• Current conditions 94.8 vs 94.8 expected
• Prior 95.0; revised to 93.1
• Expectations 88.6 vs 91.9 expected
• Prior 92.2; revised to 91.7

This marks the first drop in the headline reading since October last year as German economic conditions begin to run into a bit of trouble. It is quite evident that the drag in manufacturing conditions is starting to weigh on Europe's largest economy. On the bright side at least, is that the expectations reading did move up more than anticipated.

Update: The earlier reading had the expectations and current conditions swapped (Reuters error) so in fact this is a rather poor report with the outlook also worsening.

/EUR EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term