German business confidence deteriorated for the third straight month to hit an eight-month low in July, signaling another quarter of economic contraction and a prolonged recession this year.
The business climate index fell to 87.3 in July from 88.6 in the previous month, a monthly survey conducted by the ifo institute showed on Tuesday. The expected score was 88.0.
"The situation in the German economy is turning bleaker," ifo President Clemens Fuest said.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.