Rabobank analysts suggest that following the shocking PMI on Monday, the German Ifo will be very closely watched.
Key Quotes
“The Business Climate Index is expected to edge marginally higher to 94.5 in September from 94.3. A modest deterioration in the Current Assessment Index from 97.3 to 96.9 is anticipated. The Expectations Index – a relatively reliable barometer of short-term prospects for Germany – is seen improving to 92 after an unexpected fall to 91.3. That said, yet another disappointing reading will further add to already growing concerns about the state of the German economy.”
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