The business situation in Germany worsened
According to Her News Agency, the Institute of Economic Research (Ifo) announced in its report that the business situation in Germany It worsened in June and its business climate index rose to 88.6 from 89.3 in May. The current assessment index remained at 88.3, the same level it reached in May. Meanwhile, the expectations index fell to 89.0 in June from 90.4 recorded in the previous month.
Clemens Faust, President of the Research Institute The economy pointed to the improvement of services, but did not feel very optimistic in manufacturing, trade and construction businesses. He stated: “The German economy is facing difficulties in overcoming the recession.”
Economy reported that the situation in the industrial sector worsened, reaching minus 9.2 in June and from The growth quarter changed. Meanwhile, in the services sector, the business climate improved to 4.2, helped by positive sentiment in the hotel sector.
Business conditions in the trade sector worsened significantly and the sub-index this month to minus 23. 5, while it increased slightly in construction and reached minus 25.
