-
New growth concerns for Germany after latest IFO numbers
In May, Germany’s most prominent leading indicator, the Ifo index, dropped for the first time after a six-month expansion, coming in at 91.7 from 93.6 in April. Recent banking turmoil finally seems to have caught up with German companies’ assessments. The slight stumbling of the Chinese reopening, monetary policy tightening and a looming US recession seem to be weighing on German companies’ sentiment. While the current assessment component only dropped marginally, expectations plunged more significantly. Growing divergence between sectors, but also hard and soft data Before we read too much into today’s Ifo ... (full story)