Reported 11 months ago
According to a report by the Ifo Institute for Economic Research, Germany's Ifo Business Climate Index dropped from 89.3 to 88.6 in June, marking the second consecutive decline. The industrial sector shows skepticism towards current business conditions and anticipates further deterioration in the coming months. The Federation of German Industries (BDI) is calling on the federal government to introduce stimulus plans to boost economic growth, as Germany's economic position is seen as declining compared to the United States and China. Despite slight growth in the first quarter of this year, the Ifo Institute predicts a minimal GDP growth of 0.4% for Germany in 2024, with a potential stronger growth of 1.5% in the following year.
Source: YAHOO