Economic Indicators

Ifo: German Business Confidence Slides in June

2022.06.24 12:31

Ifo: German Business Confidence Slides in June

By Scott Kanowsky 

Investing.com — German business confidence slumped by more than expected in June, dragged lower by “considerably” more pessimism for the second half of the year in the country’s key manufacturing sector, according to data released on Friday by the Ifo Institute.

Ifo’s closely-watched Business Climate Index – which measures sentiment in companies across Germany – fell to 92.3, down from 93.0 in May. Analysts had expected the number to decline to 92.9.

Ifo said the manufacturing sector – which makes up about a fifth of Germany’s economy – assesses the current economic conditions as “slightly less good” due to soaring inflation and lingering supply constraints.

“Companies were somewhat less satisfied with their current business situation. Their expectations turned markedly more pessimistic. Rising energy prices and the threat of gas shortages are of great concern to German business,” said Clemens Fuest, Ifo Institute President.

However, the outlook for service sector firms improved, boosted in part by strong summertime demand for hospitality businesses.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 85,360.87 3.68%
ethereum
Ethereum (ETH) $ 2,322.86 6.42%
tether
Tether (USDT) $ 0.999103 0.00%
xrp
XRP (XRP) $ 2.20 4.23%
bnb
BNB (BNB) $ 612.53 1.73%
solana
Solana (SOL) $ 138.33 2.76%
usd-coin
USDC (USDC) $ 1.00 0.00%
dogecoin
Dogecoin (DOGE) $ 0.205986 2.22%
cardano
Cardano (ADA) $ 0.657175 3.94%
staked-ether
Lido Staked Ether (STETH) $ 2,321.51 6.46%
tron
TRON (TRX) $ 0.227618 0.33%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 85,321.86 3.75%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,771.45 6.15%
chainlink
Chainlink (LINK) $ 15.23 0.78%
litecoin
Litecoin (LTC) $ 123.89 4.72%
avalanche-2
Avalanche (AVAX) $ 22.37 1.72%
sui
Sui (SUI) $ 2.92 3.13%
stellar
Stellar (XLM) $ 0.288405 1.58%
the-open-network
Toncoin (TON) $ 3.46 3.26%
shiba-inu
Shiba Inu (SHIB) $ 0.000014 1.32%
leo-token
LEO Token (LEO) $ 9.09 0.56%
hedera-hashgraph
Hedera (HBAR) $ 0.198589 1.34%
usds
USDS (USDS) $ 1.00 0.06%
polkadot
Polkadot (DOT) $ 4.85 3.19%
mantra-dao
MANTRA (OM) $ 7.30 4.56%
hyperliquid
Hyperliquid (HYPE) $ 20.61 0.13%
weth
WETH (WETH) $ 2,320.84 6.48%
ethena-usde
Ethena USDe (USDE) $ 0.999387 0.00%
bitcoin-cash
Bitcoin Cash (BCH) $ 295.72 0.27%
uniswap
Uniswap (UNI) $ 8.03 3.61%
bitget-token
Bitget Token (BGB) $ 4.02 7.51%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,460.44 6.55%
monero
Monero (XMR) $ 214.75 2.11%
whitebit
WhiteBIT Coin (WBT) $ 26.43 1.48%
near
NEAR Protocol (NEAR) $ 3.04 0.39%
aptos
Aptos (APT) $ 6.11 8.73%
pepe
Pepe (PEPE) $ 0.000008 1.25%
dai
Dai (DAI) $ 1.00 0.01%
internet-computer
Internet Computer (ICP) $ 6.51 1.30%
ondo-finance
Ondo (ONDO) $ 0.991044 0.01%
aave
Aave (AAVE) $ 204.26 1.24%
bittensor
Bittensor (TAO) $ 362.22 3.59%
susds
sUSDS (SUSDS) $ 1.04 0.10%
ethereum-classic
Ethereum Classic (ETC) $ 18.85 0.48%
okb
OKB (OKB) $ 44.99 3.14%
gatechain-token
Gate (GT) $ 21.32 2.96%
official-trump
Official Trump (TRUMP) $ 13.29 2.45%
mantle
Mantle (MNT) $ 0.759178 4.95%
tokenize-xchange
Tokenize Xchange (TKX) $ 30.36 7.95%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 85,391.88 3.70%