Ifo business confidence remains stable
The ifo business confidence index remained stable throughout September, moving from 108.4 to 108.5 basis points compared to the previous month.
Businesses in Germany were slightly less upbeat about the current situation, which was downgraded from 114,8 to 114.0 bsp mom whereas the six month outlook improved from 102.2 to 103.3 basis points.
The index is closely followed among analysts since a significant deterioration of ifo business confidence could be one of the factors stimulating an expansion of ECB QE measures.
The monthly index is based on reports from approximately 2500 businesses across Germany.