German Business Confidence Softens In June

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By Renju Jaya   ✉   | Published: 6/24/2024 4:38 AM ET | Follow Us On Google News

Germany's business sentiment softened in June, survey results from the ifo Institute showed on Monday.

The business confidence index fell to 88.6 in June from 89.3 in May. The score was forecast to rise slightly to 89.7.

Assessment of current situation remained unchanged, while expectations among companies deteriorated in June.

The current situation index remained at 88.3 in June compared to the forecast of 88.4. Meanwhile, the expectations index dropped to 89.0, which was below economists' forecast of 91.0.

The decline in the business climate indicator to a very low level highlights that even after Germany's economy grew in the first quarter, it is far from back to full health, Capital Economics' economist Jack Allen-Reynolds said.

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