German IFO Business Climate misses with 115.2 - Euro slips

Germany Sept IFO business climate 115.2 vs 116.00 exp

A statue in front of the Deutsche Bank in Frankfurt.

The closely-watched business confidence index for the sector conducted by the Munich-based institute rose by 0.1 points to 110.7 points in September.

The Business Expectations Index, which measures attitudes toward business prospects over the next six months, inched down to 107.4 this month from 107.8, falling short of forecasts for a reading of 107.9.

"Companies were less satisfied with both their current business situation and their short-term outlook than in August", Ifo chief Clemens Fuest said.

The expectations report is for 6 months out. The jobless rate stood at 7.5 percent in July.

Meanwhile, European stock markets were mostly higher after the open.

While the September drop was probably a result of increased geopolitical tensions, ongoing problems in the German automotive industry and the stronger euro, the next months will tell how the German business sector looks at the results of Sunday's poll, Carsten Brzeski, an ING economist, said.

Wohlrabe said that new elections could not be excluded given the difficulty of forming a new government: "So uncertainty can certainly spread".

The German economy grew 0.7 per cent on the quarter in the first three months of the year and 0.6 per cent from April to June, driven by increased household and state spending as well as higher investment in buildings and machinery.

Related News:

  • Hurricane Maria weakens as it moves north in Atlantic

    Hurricane Maria weakens as it moves north in Atlantic

    On Hatteras, Jay Wrenn and his wife packed up their auto for the five-hour drive back home to Burlington, North Carolina. Forecasters said waves from the storm are affecting beaches from Florida through southern New England.
    Crews fight back flames within feet of California homes

    Crews fight back flames within feet of California homes

    ABC reporter Greg Lee, who tweeted a video of the fire, said: "Cannot stress this enough: stay off the 91E if you can help it". Tuesday, approximately 45 evacuees checked-in at an evacuation shelter set up in the gymnasium of Corona High School.
    New 6.1-magnitude quake shakes jittery Mexico

    New 6.1-magnitude quake shakes jittery Mexico

    Although Oaxaca State is located in Southern Mexico , Saturday's quake could be felt almost 300 miles away in Mexico City . There were also 73 deaths in Morelos state, 45 in Puebla, 13 in the State of Mexico , six in Guerrero and one in Oaxaca .
  • Kumar Sangakkara's Tweet To Hardik Pandya Is 'Very Special'

    Kumar Sangakkara's Tweet To Hardik Pandya Is 'Very Special'

    That time (Chennai ODI), I thought that Zampa was bowling and I knew that I could hit a six off him anytime I wanted to. He also acknowledged the platform provided by openers Rohit Sharma and Ajinkya Rahane with their 131-run partnership.
    Gas Prices Decreasing After Hurricanes Harvey And Irma

    Gas Prices Decreasing After Hurricanes Harvey And Irma

    That's still a nickel higher than the national average and 54 cents higher per gallon than the in-state price one year ago. According to GasBuddy, people were filling up for just $2.10 per gallon on average last September 24.
    Target will raise minimum hourly wage to $11 to counter Wal-Mart

    Target will raise minimum hourly wage to $11 to counter Wal-Mart

    However, it is much different for a private company to instill a minimum wage than it is for a city or a federal government. The discount-store operator also said it is committed to increasing the minimum hourly wage to $15 by the end of 2020.
  • World Oil Prices Jump Following OPEC Meeting

    World Oil Prices Jump Following OPEC Meeting

    Puerto Rico was devastated by the impact of Irma and Hurricane Maria, which hit the US island territory as a Category 4 storm. U.S. refinery utilization rebounded to 83.2 per cent last week after dropping to 77.7 per cent after the Hurricane struck.
    Russian general killed fighting IS in east Syria

    Russian general killed fighting IS in east Syria

    The move comes at a time when Turkey has agreed to deploy observers to enforce a de-escalation zone in Idlib province. The group has taken over 90 percent of the Raqqa province, the de facto capital of IS in northern Syria .
    Woman Previously Named 'Heaviest in the World' Dead at 37

    Woman Previously Named 'Heaviest in the World' Dead at 37

    Following the procedure , which was paid for through a crowdsourcing campaign, she managed to reduce her weight to just 176kg. Marred by the controversy over her medical treatment, Eman was shifted to Abu Dhabhi for further medical treatment.
  • Longest surviving terrorist killed in Kashmir

    Longest surviving terrorist killed in Kashmir

    Security agencies were convinced that these killings and attacks are the handiwork of Qayoom and his associate Imtiyaz Kundoo. Earlier, Police had announced a reward of Rs 10 lakhs for information leading to the arrest of Najar.
    The Neymar-Cavani saga:

    The Neymar-Cavani saga: "Who do you think you are? Messi . ?"

    With Everton looking for a forward to replace Romelu Lukaku, Cavani could present an appealing option for Ronald Koeman's side. Cavani and Neymar have scored 10 league goals between them this season. "Now we have credibility in the Champions League ".
    Afghanistan Top Of Mattis' Agenda While In India

    Afghanistan Top Of Mattis' Agenda While In India

    India will continue its development and medical assistance to Afghanistan but will not send troops, Ms Sitharaman said. She said, Mattis has assured that he will raise the issue of terrorism with Pakistan when he visits that country.


Most liked

In new setback, Uber to lose license to work in London
The company said it plans to appeal the regulator's decision, and can continue to operate until the appeals process is exhausted. The apology is as vague as the accusations and gets them a meeting with Khan who has refused to meet since becoming mayor.

Expect delays: Air traffic glitch could impact Rockhampton flyers today
As a result Air Services Australia (ASA) reduced traffic capacity to ensure safety standards were maintained. Sydney Airport said in a message posted to its official Twitter feed that the "issue has now been resolved".

Iranian president Rouhani says Tehran will boost its missile capabilities - state media
Britain also voiced concerns about the test of "Khorramshahr" missile, which can carry several warheads. That makes them only medium-range but still sufficient to reach Israel or U.S. bases in the Gulf.

US Rep. Anthony Weiner Sentenced to 21 Months in Sexting Scandal
Abedin, who has a child with Weiner , did not attend Weiner's sentencing, according to the New York Daily News . Over the next few hours Weiner exchanged messages with her that ranged "from the mundane to the provocative".