Financial News: German Ifo Business Confidence Deteriorates In August

German Ifo Business Confidence Deteriorates In August

08/26/2024 - 04:48:00 (RTTNews)

(RTTNews) - The confidence among companies in Germany showed a downward trend in August as their current and future situations were weakened, survey data from the ifo Institute showed on Monday.

The ifo Business Climate Index fell to a six-month low of 86.6 in August from 87.0 in July. The expected reading was 86.0.

The latest reading signaled that the German economy is increasingly falling into crisis.

The current situation index posted 86.5 in August, down from 87.1 in July, as expected.

The expectations index also eased to 86.8 from 87.0 a month ago. The expected score was 86.5.

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