January 2018 German IFO business climate index 25 January 2018

  • Prior 117.2
  • Current conditions 127.7 vs 125.4 exp. Prior 125.4. Revised to 125.5
  • Expectations 108.4 vs 109.4 exp. Prior 109.5. Revised to 109.4

Things are looking rosy now but expectations dip.

IFO comments:

  • German economy is in excellent condition despites the lack of a new government
  • German industry is getting close to full capacity
  • Does not see any overheating of the economy yet as prices are not being pushed up and wage growth is moderate
  • Has seen no impact from US tax reform on German economy
  • There’s been no dampening effect from euro strength on the economy

That’s music to Draghi’s ears.

Also out;

  • Spain Q4 2017 unemplyment rate 16.55% vs 16.15% exp. Prior 16.38%
  • Italy industrial orders Nov 2017 0.3% vs 1.9% prior m/m SA
  • 8.9% vs 12.5% prior y/y NSA
  • Sales 1.3% vs 1.1% prior m/m SA
  • 5.1% vs 5.0% prior y/y WDA


Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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