German September IFO report 26 Sept 2016

  • 106.3 prev revised up from 106.2
  • current assessment 114.7 vs 112.9 exp vs 112.9 prev revised up from 112.8
  • expectations 104.5 vs 100.1 exp/prev

Upbeat report sees euro a tad higher but not exactly flying away as yet. Should help to underpin though.

Say IFO:

  • Brexit shock has been digested for now. Will not have a big impact economy in 2016
  • pvt consumption still doing very well, we don't need to worry about that
  • crises and conflicts are not really affecting German economy much, is still robust
  • slowdown expected in H2 though

Full report available here from 09.30 GMT