SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Unexpected headwind for German economy

It is blowing an unexpected headwind for Europe's largest economy, Germany. The outlook for the German business climate has deteriorated in June, shows a monthly index from the German analysis institute Ifo.

» Updated: 16 July 2024, 16:25

» Published: 24 June 2024

Unexpected headwind for German economy
Photo: Genre image/Envato Elements

There is an unexpected headwind for Europe's largest economy, Germany. The outlook for the German business climate has deteriorated in June, according to a monthly index from the German analysis institute Ifo.

The index for June fell to 89.0, down from 90.3 in May.

Analysts had on average expected a continued rise for the index, which had risen for four months in a row prior to the June decline.

The current business climate index remained unchanged in June compared to the previous month.

"The German economy is struggling to overcome stagnation", writes Ifo chief Clemens Fuest in a comment.

He particularly points to gloomy signals from the manufacturing industry regarding the outlook, with widespread concern about declining orders.

German GDP rose by 0.2 per cent in the first quarter and the German central bank Bundesbank's economists said last week that they expect continued growth in the second quarter.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Yet Another Extremely Strong Report from Nvidia
2 MIN READ

Yet Another Extremely Strong Report from Nvidia

Better than expected for Nvidia
1 MIN READ

Better than expected for Nvidia

Department store giant sinks on Wall Street
1 MIN READ

Department store giant sinks on Wall Street

The FI's Advice: Have Accounts in Multiple Banks
1 MIN READ

The FI's Advice: Have Accounts in Multiple Banks

Break in Trend - Household Costs No Longer Rising
2 MIN READ

Break in Trend - Household Costs No Longer Rising

4,000 to Leave the Car Giant
1 MIN READ

4,000 to Leave the Car Giant

The VW Union Takes a Stand Against Factory Closures
1 MIN READ

The VW Union Takes a Stand Against Factory Closures

Slovakian Nuclear Power Plant Plan Approved
1 MIN READ

Slovakian Nuclear Power Plant Plan Approved

Giant boost for Turkish minimum wages on the way
1 MIN READ

Giant boost for Turkish minimum wages on the way

6 MIN READ

Reduced risk of power crisis in winter
1 MIN READ

Reduced risk of power crisis in winter

Trump's Minister Paves the Way for Quick Tariff Decision
3 MIN READ

Trump's Minister Paves the Way for Quick Tariff Decision

Tough times for Chinese car giant
1 MIN READ

Tough times for Chinese car giant

Double rate cut of Icelandic interest rate
1 MIN READ

Double rate cut of Icelandic interest rate

Down on the stock exchange for the fourth day in a row
1 MIN READ

Down on the stock exchange for the fourth day in a row

The Gaming Company's Stock Soars - Confirms Purchase Inquiry
1 MIN READ

The Gaming Company's Stock Soars - Confirms Purchase Inquiry

Japan Sets Tourist Record - Attracts increasing number of tourists
1 MIN READ

Japan Sets Tourist Record - Attracts increasing number of tourists

Denmark's economy is picking up.
1 MIN READ

Denmark's economy is picking up.

Unexpectedly high inflation in the UK
1 MIN READ

Unexpectedly high inflation in the UK

FI wants to see strengthened protection of financial companies
1 MIN READ

FI wants to see strengthened protection of financial companies