Latest data released by Ifo - 24 September 2021
- Prior 99.4; revised to 99.6
- Current conditions 100.4 vs 101.8 expected
- Prior 101.4
- Expectations 97.3 vs 96.5 expected
- Prior 97.5
The readings are more or less in-line with estimates though current conditions were a touch softer than anticipated, with all three readings showing further moderation towards the end of Q3. Of note, the headline is a five-month low reading.
This reaffirms that supply bottlenecks and capacity constraints are still weighing on the German economic outlook and will likely temper with economic prospects in Q4.
