Germany’s economic outlook is in focus today with the monthly release of the Ifo survey of the country's business community. Later, two key US updates – new orders for durable goods in July and the weekly numbers on initial jobless claims – will provide more context for evaluating the recent run of upbeat third-quarter GDP forecasts. Germany: Ifo Business Climate Index (0800 GMT) Yesterday’s revised second-quarter GDP report confirmed that Europe’s biggest economy grew by 0.4%. A key source of the expansion: exports. Outbound shipments jumped 1.2% in the second quarter. Domestic consumption remained a positive force ... (full story)