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Business confidence in German economy Ifo declined in July

The index of confidence of German entrepreneurs in the country’s economy of the Ifo institute decreased in July and turned out to be weaker than forecasts. The index has been falling for the second month in a row.

The value of the indicator, calculated by the Munich Institute for Economic Research Ifo, this month decreased to 88.6 points from 92.3 points in June. Experts polled by The Wall Street Journal, on average, predicted a more moderate decline in the indicator, to 90.5 points.

The index of expectations of German business leaders for the next six months fell by 5.5 points to 80.3 points. The indicator of the attitude of business to the current situation in July fell to 97.7 from 99.3 points a month earlier.

The confidence index fell in the manufacturing industry, in the service sector, and in retail trade. In construction, the figure fell to its lowest level since April 2016.

The Ifo study is based on a survey of about 9,000 executives in the industrial and construction sectors, as well as the service and trade sectors.

Source: FINMARKET.RU

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