German IFO Business Climate Index drops to 92.3 in June vs. 92.9 expected

• German IFO Business Climate Index came in at 92.3 in June.
• IFO Current Economic Assessment eased to 99.3 this month.
• June German IFO Expectations Index arrived at 85.8

The headline German IFO Business Climate Index dropped sharply to 92.3 in June versus last month's 93.0 and the consensus estimates of 92.9.

Meanwhile, the Current Economic Assessment eased to 99.3 points in the reported month as compared to May's 99.5 and 99.1 anticipated.

The IFO Expectations Index – indicating firms’ projections for the next six months, unexpectedly fell to 85.8 in June from the previous month’s 86.9 reading and the market forecast of 87.4.