FOREX TradingCharts.com

Financial News: German Business Morale Deteriorates On Weak Expectations:

German Business Morale Deteriorates On Weak Expectations: Ifo

06/24/2024 - 08:13:00 (RTTNews)

(RTTNews) - Germany's business sentiment softened in June due to more pessimistic expectations, highlighting the hardship that the economy faces amid headwinds, survey results from the ifo Institute showed on Monday.

The business confidence index fell to a three-month low of 88.6 in June from 89.3 in May. The score was forecast to rise slightly to 89.7.

The German economy is having difficulty overcoming stagnation, ifo President Clemens Fuest said.

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.

The economist said Germany is likely to continue growing at a slow pace. GDP is expected to grow only 0.2 percent in the whole year of 2024.

The survey showed that 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 unexpectedly to 89.0 from 90.3. The reading was seen at 91.0.

Confidence among manufacturers deteriorated for the first time in four months. Companies were more skeptical about coming months as they were more concerned by the declining order backlog. Nonetheless, they were somewhat more satisfied with current business.

In the service sector, the business climate index improved in June. Service providers assessed their situation more positively. In addition, the outlook for the second half year continued to brighten. The survey showed that the business climate deteriorated considerably in trade. Regarding expectations, skeptical sentiment strengthened notably and their assessments of current business corrected downward. In construction, business confidence rose slightly, thanks to less pessimistic expectations. However, the current situation was assessed as worse.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Malaysia Economy Expands At Fastest Pace Since Late 2022 (11 hr(s), 35 min(s), 47 sec(s) ago)
(RTTNews) - Malaysia's economy posted its fastest growth in six quarters with strong support f ...Full Story»

Eurozone Inflation Expectations Remain Unchanged (12 hr(s), 03 min(s), 47 sec(s) ago)
(RTTNews) - Eurozone inflation expectations for this year and next year remained unchanged, the Su ...Full Story»

Philly Fed Index Jumps Much More Than Expected In July (12 hr(s), 38 min(s), 47 sec(s) ago)
(RTTNews) - The Federal Reserve Bank of Philadelphia released a report on Thursday showing growth ...Full Story»

Philly Fed Index Indicates More Widespread Growth In July (12 hr(s), 38 min(s), 47 sec(s) ago)
(RTTNews) - The Federal Reserve Bank of Philadelphia released a report on Thursday showing growth ...Full Story»

Italy Current Account Surplus Rises In May (13 hr(s), 32 min(s), 47 sec(s) ago)
(RTTNews) - Italy's current account surplus increased in May from the previous year, the Bank ...Full Story»

UK Government Borrowings Overshoot Estimate (14 hr(s), 03 min(s), 47 sec(s) ago)
(RTTNews) - The bigger-than-expected UK public sector net borrowing in June highlights the challen ...Full Story»

Eurozone Current Account Surplus Remains Unchanged (15 hr(s), 11 min(s), 47 sec(s) ago)
(RTTNews) - The euro area current account surplus remained unchanged in May, the European Central ...Full Story»

Spain Trade Gap Narrows In May (15 hr(s), 20 min(s), 47 sec(s) ago)
(RTTNews) - Spain's foreign trade deficit decreased in May from a year ago as exports rose ami ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Malaysia Economy Expands At Fastest Pace Since Late 2022

07/19/2024 - 08:54 AM (RTTNews)
(RTTNews) - Malaysia's economy posted its fastest growth in six quarters with strong support f ...Full Story>>

Eurozone Inflation Expectations Remain Unchanged

07/19/2024 - 08:26 AM (RTTNews)
(RTTNews) - Eurozone inflation expectations for this year and next year remained unchanged, the Su ...Full Story>>

Philly Fed Index Indicates More Widespread Growth In July

07/19/2024 - 07:51 AM (RTTNews)
(RTTNews) - The Federal Reserve Bank of Philadelphia released a report on Thursday showing growth ...Full Story>>

Philly Fed Index Jumps Much More Than Expected In July

07/19/2024 - 07:51 AM (RTTNews)
(RTTNews) - The Federal Reserve Bank of Philadelphia released a report on Thursday showing growth ...Full Story>>

Italy Current Account Surplus Rises In May

07/19/2024 - 06:57 AM (RTTNews)
(RTTNews) - Italy's current account surplus increased in May from the previous year, the Bank ...Full Story>>

Do not sell my personal information

Copyright © 2024. 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.