The economy German Ifo business climate deteriorates in June
The mood in the German economy deteriorated in June. The Ifo business climate fell by 0.7 points to 88.6 points, as the Ifo Institute announced in Munich on Monday.
24.06.2024, 11:59
SDA
Analysts, however, had expected a slight increase to an average of 89.6 points. The sentiment barometer had been trending upwards in the previous months, but deteriorated slightly in May according to new figures.
"The German economy is struggling to overcome stagnation," commented Ifo President Clemens Fuest. The approximately 9000 companies surveyed assessed the outlook for their future business as worse, while the assessment of the current situation stagnated. The business climate deteriorated in the manufacturing and trade sectors, but brightened in the service and construction sectors.
