German Ifo Business Climate dropped 0.1 to 101.7 in July, inline with expectation. Current Assessment, on the other hand, rose 0.2 to 105.3, above consensus of 105.1. But Expectations dropped 0.4 to 98.2, below expectation of 98.7.
Ifo President Clemens Fuest said in the release that “companies were slightly more satisfied with their current business situation, but scaled back their business expectations slightly. The German economy continues to expand, but at a slower pace.”
Also, “the business climate index fell in trade. Traders were increasingly sceptical about their six-month business outlook, but more satisfied with their current business situation. This effect was particularly marked in retailing.”
