German IFO Business Climate Index improves to 85.2 in February vs. 85.8 expected

• German IFO Business Climate Index misses estimates with 85.2 in February.
• The IFO Current Economic Assessment Index fell to 85 in the reported month.

The headline German IFO Business Climate Index ticked a tad higher to 85.2 in February from 85.1 in January. The data came in below the market expectations of 85.8.

Meanwhile, the Current Economic Assessment Index dropped to 85 in the same period from 86.1 in January, missing the expected 86.5 reading.

The IFO Expectations Index, which indicates firms’ projections for the next six months, rose to 85.4 in February vs. 84.2 in January and 85.2 forecast.

Market reaction to the German IFO Survey

EUR/USD defend mild gains near 1.0480 following the mixed German IFO survey. When writing, the pair is trading 0.23% higher on the day.