German business morale falls in June

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Monday, Jun 25 2018

German business morale falls in June

The ifo Business Climate deteriorated this month. The index fell to 101.8 points in June from 102.3 (seasonally adjusted) points in May. Companies were less satisfied with their current business situation. Their business expectations, by contrast, remained slightly optimistic. The tailwind enjoyed by the German economy is calming down. In manufacturing, the index fell due to poorer assessments of the current business situation. Manufacturers’ business expectations, by contrast, remained slightly optimistic. More manufacturers plan to ramp up production in the months ahead.

In the services sector the business climate deteriorated. Service providers were slightly less satisfied with their current business situation, which nevertheless remains very good. They also scaled back their expectations for the months ahead somewhat. The index fell markedly in trade. Companies downwardly revised their very good assessments of the current business situation. Their business outlook turned slightly pessimistic for the first time since February 2015. Indicators dropped far more sharply in retailing than in wholesaling. In construction the business climate index edged downwards. Contractors were less satisfied with their current business situation. Their business expectations, by contrast, remained slightly optimistic.

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