Germany Is Probably Still Stuck in Recession, Ifo’s Fuest Says
- Ifo expectations gauge for July falls to 83.5; est. 83.4
- Fuest would favor an ECB pause after rate hike this week
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Another poor reading in Germany’s business sentiment this month points to the likelihood that Europe’s biggest economy may still be stuck in recession, according to Ifo President Clemens Fuest.
“It looks like the German economy is really having a hard time getting out of this recession,” he told Bloomberg Television’s Manus Cranny on Tuesday. “The data coming in today suggests we’re still in recession.”