“The January Ifo index shows a worsening of both the current assessment and the expectations component and signals a very weak start to the new year for the German economy,” Carsten Brzeski, Global Head of Macro at ING Bank noted while offering his take on the business survey. Key quotes “The Ifo index dropped to 90.1, from 92.1 in December, and stands at its lowest level since June. The monthly drop was the worst since April. Both the current assessment and the expectations component worsened significantly, with expectations now back at their June levels after several disappointing months.” “Today’s Ifo index shows the full impact of the stricter lockdown measures put in place in mid-December, signaling a very weak start to the new year for the German economy.” “We will only know for sure on Friday, but there is compelling evidence that the German economy avoided a double-dip in the fourth quarter.” “Looking ahead, however, the stricter lockdown since mid-December will clearly leave its mark on the German economy in the first quarter.” “With the current lockdown measures in place until mid-February and no significant easing in the offing immediately afterward, the short-term outlook for the German economy is anything but rosy.” Read: EUR/USD drops towards 1.2150 as German IFO Business Climate Index misses estimates with 90.1 in Jan FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin bids farewell to $40,000 as downswing targets $22,000 FX Street 1 year "The January Ifo index shows a worsening of both the current assessment and the expectations component and signals a very weak start to the new year for the German economy," Carsten Brzeski, Global Head of Macro at ING Bank noted while offering his take on the business survey. Key quotes “The Ifo index dropped to 90.1, from 92.1 in December, and stands at its lowest level since June. The monthly drop was the worst since April. Both the current assessment and the expectations component worsened significantly, with expectations now back at their June levels after several disappointing months.” “Today’s Ifo index shows… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
