-
German Ifo index plunges in June
In June, Germany’s most prominent leading indicator, the Ifo index, dropped for the second consecutive month, after a six-month expansion, coming in at 88.5 from 91.7 in May. The weaker-than-hoped-for Chinese reopening, a looming US recession and ongoing monetary policy tightening seem to be weighing on German company sentiment. Also, the growing feeling that Germany is in for a longer period of subdued growth seems to have reached German business. Both the current assessment and the expectations component fell. Expectations are now as low as at the end of last year. Uncomfortable reality check We still don’t ... (full story)