German IFO Business Climate Index unexpectedly drops to 100.8 in July, EUR/USD off the highs

• German IFO Business Climate Index came in at 100.8 in July.
• IFO Current Economic Assessment fell to 100.4 this month.
• July German IFO Expectations Index arrived at 101 .2, a big miss.

more to come ....

About German IFO

The headline IFO business climate index was rebased and recalibrated in April after the IFO research Institute changed series from the base year of 2000 to the base year of 2005 as of May 2011 and then changed series to include services as of April 2018. The survey now includes 9,000 monthly survey responses from firms in the manufacturing, service sector, trade and construction.