IFO: Brexit has had a stronger effect on German business morale

Headlines crossed the wires from the German IFO, following the release of the latest business climate indicator last hour.

Key Headlines:

Brexit has had a stronger effect on German business morale

Order intake in chemical and electric sectors are subdued largely due to Brexit

Effect of Turkey coup on business morale is minimal

The headlines Ifo business climate fell sharply to 106.2 points in August, down from 108.3 in July. While the current economic conditions fell to 112.8 points compared to 114.7 in July,