Business sentiment in Germany soured in April, falling from the previous month's positive report, data from the German Ifo showed on Tuesday. The headline Ifo business climate index in Germany dropped to 106.6 in April, down from March's increase to 106.7 and missing forecasts of 107.1. The Ifo's current assessment which looks at the current business sentiment was also lower at 113.2 in April, down from 113.8 in March while the Ifo expectations which is a forward looking business sentiment index rose to a modest 100.4 in April, slightly better than March's 100.0 reading. The soft data comes on the back of Markit's flash composite PMI which fell to 53.8 in April posting the lowest reading since September of 2015.
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Daily Analysis - 26/04/2016