German September IFO business climate surprises on the downside

The headline German Ifo business climate surprised to the downside, coming in at 115.2 points in September, down from 115.9 recorded last month and expectations of 116.0. Meanwhile, the current economic assessment also edged lower to 123.6 points during the reported month, as against last month's reading of 124.6 and 124.8 anticipated.

The Ifo Expectations Index – indicating firms’ projections for the next six months also fell short of expectations, arriving at 107.4 in September as compared to 107.8 seen last.