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Consensus looks for higher IFO; flash PMI points to risks lower

GERMAN DATA
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  • The German IFO business climate is due for release today at 9:00BST (10:00CET). Consensus is looking for a tick up to 89.6 from 89.3 with both the current assessment and expectations prints also expected higher.
  • However, this would be in contrast to the flash PMI prints. As the charts below show, there isn't a perfect correlation between the releases, but it is still fairly unusual to see one index move higher while the other moves lower.
  • Only 5/24 analysts in the Bloomberg survey look for a lower print than in May on the headline index.

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  • The German IFO business climate is due for release today at 9:00BST (10:00CET). Consensus is looking for a tick up to 89.6 from 89.3 with both the current assessment and expectations prints also expected higher.
  • However, this would be in contrast to the flash PMI prints. As the charts below show, there isn't a perfect correlation between the releases, but it is still fairly unusual to see one index move higher while the other moves lower.
  • Only 5/24 analysts in the Bloomberg survey look for a lower print than in May on the headline index.