Economic Indicators

German business sentiment darkens in June, Ifo says

2024.06.24 04:29

BERLIN (Reuters) – German business morale unexpectedly fell in June due to more pessimistic expectations of Europe’s largest economy, a survey showed on Monday.

The Ifo institute said its business climate index sank to 88.6 in June from 89.3 in May, compared with a reading of 89.7 forecast by analysts in a Reuters poll.

© Reuters. FILE PHOTO: A commuter train passes by the skyline with its financial district ahead of the European Central Bank?s (ECB)  governing council meeting later this week in Frankfurt, Germany, October 25, 2021.  REUTERS/Kai Pfaffenbach/File Photo

“The German economy is having difficulty overcoming stagnation,” said Ifo president Clemens Fuest.

The expectations index dropped to 89.0 in June from a slightly revised 90.3 the month before. Analysts had expected that index to rise to 91.0.



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