The ifo German business sentiment index deteriorated more significantly than expected in August

German business sentiment deteriorated.

In August, the index fell to 99.4 points from 100.7 points in July. The market expected a less deteriorating indicator, 100.4 points.

The two components of the mood index developed in opposite directions. The indicator quantifying the assessment of the current situation rose from 100.4 points to 101.4 points in July, exceeding the average of analyst expectations of 100.8 points. At the same time, the indicator quantifying expectations for the six months was lower than the expected 100 points, 97.5 points after 101 points in July. (MTI)