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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
GERMAN DATA
MNI (London)
GERMANY JUN IFO BUSINESS CLIMATE 88.5 (FCST 90.7); MAY 91.7
GERMANY JUN IFO CURRENT COND 93.7 (FCST 93.5); MAY 94.8
GERMANY JUN IFO EXPECTATIONS 83.6 (FCST 88.1); MAY 88.3
The German IFO survey weakened across the board in June, led by a decline in outlooks.
- The Business Climate index fell 3.2 points to 88.5, against expectations of a more mild one-point decline.
- Current Conditions moderated by 1.1 points, whilst Expectations slid by 4.7 points. The latter was a decent miss on the 0.2-point decline expected by consensus.
- Manufacturing, trade and construction sentiment slumped to November/December 2022 levels.
- Services also lost momentum, assessing future outlooks as significantly more pessimistic.
- This in combination with weakening June PMI data implies outlooks are worsening for the already-contractive German economy.
- The Bundesbank's latest June projections see the German economy contracting by -0.3% in 2023. Yet a continuation of the downturn seen in June data would imply a more pronounced contraction.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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