Germany: Business confidence falls for second consecutive month in June
Business confidence fell to 88.5 in June from May’s 91.5. June’s result marked the weakest sentiment since November 2022, and the second consecutive decline after seven six months of improvements.
The deterioration in June was driven by business sentiment worsening in all sectors, namely the construction, manufacturing, retailing, services, trade and wholesaling sectors. Trade firms, in particular, recorded one of the worst sentiment readings, likely due to continued weakness in the global economy.