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German IFO Business Climate index surprises on the upside in Sept

FXStreet (Mumbai) - Business sentiment among German investors surprisingly improved in September, shrugging-off the sell-off in the Chinese and global stock markets. The result, however, did not reflect the latest turmoil caused by a false emission scam at the country's auto giant Volkswagen.

The headline Ifo Business Climate Index rose to 108.5 during September, above the 108.4 booked in August.

Meanwhile, the Current Assessment sub-survey, indicating current conditions in the euro area's number one economy, booked 114 points, after the previous month's figure of 114.8 and below estimates of 114.7 points.

Whilst, the Ifo Expectations Index - indicating firms' projections for the next six months - recorded 103.3, from 102.2 in August, after estimates had called for a reading of 101.4.

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