Germany's business confidence weakened for the first time in seven months in May as managers were skeptical about the upcoming summer amid the tightening monetary policy and mounting fears of recession in the US, survey data from the ifo Institute showed Wednesday.
The business confidence index fell more-than-expected to 91.7 in May from a revised 93.4 in the previous month. The expected score was 93.0.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.