German June IFO business climate surprises positively

The headline German Ifo business climate surprised to the upside, coming in at 115.1 points in June versus 114.6 recorded last month and expectations of 114.4. Meanwhile, the current economic assessment also improved to 124.1 points in the reported month, as compared to last month's 123.2 and 123.3 anticipated.

The Ifo Expectations Index – indicating firms’ projections for the next six months bettered expectations, arriving at 106.8 in June versus expectations to 106.4 and 106.5 seen last.