German Ifo business climate dropped to 114.7 in March, down from 115.4, slightly above expectation of 114.6.
Ifo expectation dropped to 104.4, down from 105.4, met consensus.
Ifo current assesment dropped to 125.9, down from 126.3, above expectation of 125.6.
Ifo economist Klaus Wohlrabe “the protectionism debate is leaving its mark.” And therefore, “export expectations have fallen to their lowest levels in more than a year.”
Ifo president Clemens Fuest also echoed that “the threat of protectionism is dampening the mood in the German economy,”