German Business Sentiment Fell in June -Ifo Survey
June 25 2018 - 4:54AM
Dow Jones News
By Nina Adam
FRANKFURT--German business sentiment deteriorated further in
June, with companies less satisfied with their current business
situation, the Ifo Institute said Monday.
The Ifo business-climate index fell to 101.8 from 102.3 in May.
It marks the lowest reading since May last year, when the index
also stood at 101.8. Economists polled by The Wall Street Journal
forecast an outcome of 101.6.
"The tailwinds enjoyed by the German economy are subsiding,"
Clemens Fuest, the president of the Ifo Institute, a supply-side
economics think tank in Munich, said.
Each month, the Ifo polls about 9,000 companies in the
manufacturing, services, trade and construction sectors.
The Ifo Institute last week scaled back its outlook for Europe's
largest economy, forecasting growth of 1.8% in 2018 and again in
2019. Previously, it had predicted growth of 2.6% in 2018 and 2.1%
in 2019.
Write to Nina Adam at nina.adam@wsj.com
(END) Dow Jones Newswires
June 25, 2018 04:39 ET (08:39 GMT)
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