Investing.com – German business confidence declined less-than-expected in September, industry data showed on Monday.
In a report, the German research institute, Ifo said its Business Climate Index fell to a seasonally adjusted 107.5 in September from 108.7 in August. Analysts had expected the index to fall to 106.8.
The Current Assessment Index slipped to 117.9 from 118.1 last month, outperforming expectations for a decline to 115.5.
The Business Expectations Index dropped to 98.0 from 101.1 in August, less than the expected decline to 97.4.
Following the release of the data, the euro pared losses against the U.S. dollar, with EUR/USD shedding 0.45% to hit 1.3436.
Meanwhile, European stock markets were mixed after the open. The EURO STOXX 50 jumped 1%, France’s CAC 40 rose 0.65%, the FTSE 100 slumped 0.35%, while Germany's DAX climbed 1.2%.
In a report, the German research institute, Ifo said its Business Climate Index fell to a seasonally adjusted 107.5 in September from 108.7 in August. Analysts had expected the index to fall to 106.8.
The Current Assessment Index slipped to 117.9 from 118.1 last month, outperforming expectations for a decline to 115.5.
The Business Expectations Index dropped to 98.0 from 101.1 in August, less than the expected decline to 97.4.
Following the release of the data, the euro pared losses against the U.S. dollar, with EUR/USD shedding 0.45% to hit 1.3436.
Meanwhile, European stock markets were mixed after the open. The EURO STOXX 50 jumped 1%, France’s CAC 40 rose 0.65%, the FTSE 100 slumped 0.35%, while Germany's DAX climbed 1.2%.