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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 JUL IFO BUSINESS CLIMATE 88.6 (FCST 90.1); JUN 92.2r
GERMANY JUL IFO CURRENT ASSESSMENT 97.7 (FCST 97.5); JUN 99.4r
GERMANY JUL IFO EXPECTATIONS 80.3 (FCST 83.0); JUN 85.5r
- The German Ifo survey saw another miss in both the business climate index and expectations in the July print.
- The business climate index slipped by 3.6 points to 88.6, falling a further 1.5 points than anticipated to a June 2020 low. The business expectations index saw a 5.2-point fall, a further 2.7 points than expected whilst the assessment of the current business climate was marginally higher than forecasts, seeing a softer 1.7-point fall.
- High energy prices and fears of gas shortages are feeding into further recessionary fears in Germany.
- Manufacturing pessimism was at an April 2020 high, and new orders contracted for the first time in two years, confirming waning demand as outlooks cloud over.
- The assessment of the current situation in construction nosedived to the lowest in over six years and all retail sectors turned to negative outlooks.
- Following the surprise dive in the US services PMI on Friday, the Ifo services index saw services expectations collapse, undoing the June optimism boost.
- With Ifo calling the German economy "on the cusp of a recession" and the service sector buckling, the survey saw no silver lining.
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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