Germany: Economic sentiment turns more downbeat in June
Latest reading: Economic sentiment came in at 90.7 in June, down from May’s 91.5. As a result, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.
The headline print reflected weaker sentiment in the industrial and retail sectors as well as among consumers. More positively, sentiment in the construction sector strengthened and services providers became more confident in the surveyed month.
Regarding indicators that are not used to calculate the index, employment expectations weakened, and the economic uncertainty index fell in June.