The business climate index is published by Germany's IFO Institute for Economic Research. The index value below 100 indicates a slowdown in the economic development and is taken as a clear negative factor by the market. The index value above 100 shows the growing optimism among entrepreneurs, leading to the strengthening of EUR and CHF in its turn. Oftentimes, psychological factors have a greater influence on the value of this index than actual business situations. However, despite this fact, the reaction can be very strong. The indicator is published in the middle of every month.
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