FOREX TradingCharts.com

Financial News: German Business Morale Weakest Since 2013

German Business Morale Weakest Since 2013

07/25/2019 - 07:41:00 (RTTNews)

(RTTNews) - German business confidence weakened to the lowest level in more than six years in July on increased skepticism among companies amid fears of economic contraction, survey data from the ifo Institute showed Thursday. The business climate index fell more-than-expected to 95.7 in July from revised 97.5 in June. This was the lowest score since April 2013. The score was forecast to drop to 97.2.

Companies were less satisfied with their current business situation and skepticism about future increased. The German economy is navigating troubled waters, the ifo said.

July's decline in the business confidence is consistent with the message from the PMI that the German economy made a very slow start to the third quarter, Jack Allen-Reynolds, an economist at Capital Economics, said.

"We still suspect that the ECB will wait until September before cutting interest rates, but the chance of a cut today has increased," Allen-Reynolds added.

Both ifo current and expectations indicators deteriorated in July. The current conditions index came in at 99.4, down from 101.1 in June and forecast of 100.4.

Likewise, the expectations index declined to 92.2 in July from 94.0 in the previous month. Economists had forecast a reading of 94.0.

In manufacturing, business confidence worsened as current situation took a tumble in July, such a major decline was last seen in February 2009. Companies were more pessimistic about next six months.

Confidence in services also deteriorated in July. Service providers were somewhat less satisfied with their current situation and their expectations were slightly pessimistic for the first time since July 2009.

In trade, business confidence slid sharply. Companies' current situation assessment was less positive, and their outlook for the coming months was markedly more skeptical.

Meanwhile, construction proved to be the positive exception this month, with an increase in the business climate index.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Belgium Business Confidence Weakens Further (56 min(s), 51 sec(s) ago)
(RTTNews) - Belgium's business confidence deteriorated further in August, driven by the weaken ...Full Story»

Moody's Cuts Growth Forecasts Of 16 Asia Pacific Economies On Weaker Outlook (01 hr(s), 17 min(s), 51 sec(s) ago)
(RTTNews) - Moody's Investor Service announced on Friday that it has revised down the 2019-20 ...Full Story»

Taiwan Industrial Production Rises Unexpectedly (03 hr(s), 09 min(s), 51 sec(s) ago)
(RTTNews) - Taiwan's industrial production grew unexpectedly in July, figures from the Ministr ...Full Story»

Lithuania Industrial Production Rises In July (05 hr(s), 51 min(s), 51 sec(s) ago)
(RTTNews) - Lithuania's industrial production rose in July, figures from the Department of Sta ...Full Story»

Austria Production Index Rises In June (05 hr(s), 52 min(s), 51 sec(s) ago)
(RTTNews) - Austria's production index rose in June, led by a growth in industrial output and ...Full Story»

Singapore Inflation Moderates More Than Forecast (07 hr(s), 50 min(s), 51 sec(s) ago)
(RTTNews) - Singapore's inflation slowed more-than-expected in July, data from the Monetary Au ...Full Story»

New Zealand Retail Sales Growth Slows In Q2 (09 hr(s), 25 min(s), 51 sec(s) ago)
(RTTNews) - New Zealand retail sales grew at a slower rate in the second quarter, figures from Sta ...Full Story»

Sri Lanka Central Bank Cuts Key Rates By 50 Bps (45 min(s), 09 sec(s) ago)
(RTTNews) - Sri Lanka's central bank reduced its key interest rates unexpectedly by 50 basis p ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Belgium Business Confidence Weakens Further

08/23/2019 - 09:16 AM (RTTNews)
(RTTNews) - Belgium's business confidence deteriorated further in August, driven by the weaken ...Full Story>>

Moody's Cuts Growth Forecasts Of 16 Asia Pacific Economies On Weaker Outlook

08/23/2019 - 08:55 AM (RTTNews)
(RTTNews) - Moody's Investor Service announced on Friday that it has revised down the 2019-20 ...Full Story>>

Taiwan Industrial Production Rises Unexpectedly

08/23/2019 - 07:03 AM (RTTNews)
(RTTNews) - Taiwan's industrial production grew unexpectedly in July, figures from the Ministr ...Full Story>>

Lithuania Industrial Production Rises In July

08/23/2019 - 04:21 AM (RTTNews)
(RTTNews) - Lithuania's industrial production rose in July, figures from the Department of Sta ...Full Story>>

Austria Production Index Rises In June

08/23/2019 - 04:20 AM (RTTNews)
(RTTNews) - Austria's production index rose in June, led by a growth in industrial output and ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.