MOSCOW (Pakistan Point News / Sputnik - 26th July, 2021) The business climate index in Germany in July declined to 100.8 points from 101.7 points in June, falling short of analysts' forecasts, the Munich-based IFO research institute said on Monday.
Analysts predicted the index to continue the upward trend and hit 102.1 points, according to a survey made earlier by the DailyFX portal.
"Sentiment in the German economy has clouded over. The ifo Business Climate Index for Germany fell to 100.8 points in July, down from 101.7 points in June (seasonally adjusted)," the institute said.
German businesses assessed the current situation as "somewhat better," the institute said, noting "their expectations for the coming months were significantly less optimistic."
The Assessment of the business situation, on the other hand, rose to 100.4 points in July from a revised 99.7 points in June. Analysts expected the index to reach 101.6 points.
The index of Business expectations fell from 103.7 points in June to 101.2 points in July, compared to the forecast of 103.3 points.
