FXStreet reports that the headline German IFO Business Climate Index came in at 79.5 in May, firmer than last month's 74.2 while beating the consensus estimates pointing to a reading of 78.3.

Meanwhile, the Current Economic Assessment arrived at 78.9 points in the reported month as compared to last month's 79.4 and 80.0 anticipated.

On the other hand, the IFO Expectations Index – indicating firms’ projections for the next six months, came in at 80.1 for May, up from the previous month’s 69.4 reading and better than the market expectations of 75.0.