German business confidence declines less than expected in July – Investing.com Spain

Investing.com – Business confidence in Germany has been lower than expected in July; as fears about the decision of the UK to leave the European Union have been calming down, according to industry data released Monday.

According to a report by the Ifo Institute in Germany, his dropped this month to a reading of 108.3 points in seasonally adjusted terms, compared to the June reading amounting to 108.7 and above forecasts that spoke of a decline to 107.5 points.

the uploaded in July to 114.7 points compared to 114.6 the previous month and beating expectations pointing to 114.0 points.

, which measures attitudes toward business forecasts for next six months, has fallen this month to a reading of 102.2 points compared to 103.1 in June, against forecasts that spoke of a reading of 101.2 points.

the monthly index is based on a survey of around 7,000 German companies in the manufacturing, construction and wholesale and retail sales.

the pair stood at 1.0971 versus 1.0968 level in around which is found before the publication of these data, while reached the level of 0.8355 against 0.8357 where it will be located above.

Meanwhile, stock markets in Europe they have moved upward. The index of Germany has advanced 0.4%, gained 0.3% on the French has registered a rise of 0.3%, and London has gained 0.2%.

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