Investing.com – German business confidence improved more-than-expected in January, moving higher for the third consecutive month, industry data showed on Wednesday.
In a report, the German research institute, Ifo said its Business Climate Index rose by 1.0 point to a seasonally adjusted 108.3 in January from a reading of 107.3 in December, whose figure was revised up from 107.2.
Analysts had expected the index to ease up by 0.2 points to 107.5.
The Current Assessment Index declined by 0.4 points to 116.3 from 116.7, confounding expectations for a 0.1 point increase to 116.8.
The Business Expectations Index, which measures attitudes toward business prospects over the next six months, rose by 2.3 points to 100.9 from 98.6 in December, above expectations for a reading of 99.0.
Following the release of the data, the euro remained modestly lower against the U.S. dollar, with EUR/USD easing down 0.03% to trade at 1.3029.
Meanwhile, European stock markets were mixed after the open. The EURO STOXX 50 dipped 0.15%, France’s CAC 40 added 0.1%, the FTSE 100 eased up 0.1%, while Germany's DAX rose 0.2%.
In a report, the German research institute, Ifo said its Business Climate Index rose by 1.0 point to a seasonally adjusted 108.3 in January from a reading of 107.3 in December, whose figure was revised up from 107.2.
Analysts had expected the index to ease up by 0.2 points to 107.5.
The Current Assessment Index declined by 0.4 points to 116.3 from 116.7, confounding expectations for a 0.1 point increase to 116.8.
The Business Expectations Index, which measures attitudes toward business prospects over the next six months, rose by 2.3 points to 100.9 from 98.6 in December, above expectations for a reading of 99.0.
Following the release of the data, the euro remained modestly lower against the U.S. dollar, with EUR/USD easing down 0.03% to trade at 1.3029.
Meanwhile, European stock markets were mixed after the open. The EURO STOXX 50 dipped 0.15%, France’s CAC 40 added 0.1%, the FTSE 100 eased up 0.1%, while Germany's DAX rose 0.2%.