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According To Experts The German Economy Is In Crisis “Fell 1.6 to 87.0 Points”

The mood in the German economy unexpectedly deteriorated further in July. The IFO business climate fell by 1.6 points to 87.0 points, as the Ifo Institute announced in Munich on Thursday. Analysts, however, had expected an improvement in sentiment and had expected an average of 89.0 points.
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As the recent decline in the Ifo business climate shows, the German economy continues to show weakness.

It is the third consecutive decline in Germany’s most important economic barometer . “The German economy is stuck in the crisis,” commented Ifo President Clemens Fuest. The approximately 9,000 companies surveyed rated the prospects for their future business significantly worse.

The assessment of the current situation was also weaker than in the previous month. The business climate in the manufacturing sector has fallen significantly. The values ​​fell in trade , in the services sector and in construction.

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