Germany: Business confidence falls for second consecutive month on Ukraine and Iraq concerns
June 24, 2014
The business confidence indicator published by the Ifo Institute fell for a second consecutive month in June. The indicator came in at 109.7 points, undershooting both the 110.4 points registered in May and coming in just short of the 110.3 points the market had expected.
June’s result primarily reflected businesses’ less optimistic assessments regarding future business developments, while their views of their current business situations did not changed compared to the previous month. According to Ifo, firms responded less optimistically in June as, “the German economy fears the potential impact of the crises in the Ukraine and Iraq.”
Author: Ricardo Aceves, Senior Economist