German Business Outlook Drops Amid Weak Factory Performance
- Ifo expectations index fell to 88.6 in May; est. 91.6
- Mood in economy ‘has taken a significant hit,’ Fuest says
This article is for subscribers only.
Germany’s business outlook deteriorated for the first time since October as a struggling manufacturing sector threatens to undermine the recovery of Europe’s biggest economy.
An expectations gauge by the Ifo institute slipped to 88.6 in May from 91.7 the previous month, worse than expected by every single analyst in a Bloomberg survey. A measure of current conditions also slipped.