Market Analysis
German Business Sentiment Declines in June, According to Ifo
Amos Simanungkalit · 7.2K Views
In a surprising turn, German business sentiment declined in June as expectations for Europe's largest economy grew more pessimistic, according to a survey released on Monday.
The Ifo Institute reported that its business climate index fell to 88.6 in June, down from 89.3 in May, marking a decrease from the anticipated 89.7 forecasted by analysts in a Reuters poll.
Clemens Fuest, president of Ifo, commented, "The German economy continues to grapple with stagnation."
The expectations index also declined, dropping to 89.0 in June from a slightly adjusted 90.3 the previous month. Analysts had projected an increase to 91.0 for this index.
Paraphrasing text from "Reuters" all rights reserved by the original author.