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MNI: GERMAN DATA: Ifo Survey (May 2019) Preview -....>

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MNI: GERMAN DATA: Ifo Survey (May 2019) Preview - 09:00BST
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- Ifo BUSINESS CLIMATE: Bbg Cons: 99.1; MNI Median: 99.0; Prev (Apr): 99.2
- Ifo CURRENT SITUATION: Bbg Cons: 103.5; MNI Median: 103.4; Prev (Apr): 103.3
- Ifo EXPECTATIONS: Bbg Cons: 95.0; MNI Median: 94.9; Prev (Apr): 95.2
- Markets look for the Ifo Business Climate index to decline marginally (-0.1pt)
in May, to its weakest level since Feb...
- .... as firmer sentiment regarding the current situation is expected to be
offset by a further decline in expectations
- The survey's cut-off date is likely to have fallen after the recent escalation
in the US-China trade dispute... 
- ... raising the potential for a downside surprise 
- Looking ahead, a consistent recovery in the Ifo, which has been trending lower
since late 2017, is largely contingent on a brighter global trade outlook...
- ... but with the recent ratcheting up of US-China tensions & extended
uncertainty over US car tariffs, bus. expectations look set to remain weighed

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