German business sentiment deteriorated for the fourth month in a row in August to the lowest since late 2022 as companies' assessment of the current situation weakened sharply and they turned more pessimistic regarding the outlook, survey data from the ifo institute showed Friday.
The ifo business climate index dropped more-than-expected to 85.7 points from 87.4 in July. Economists had forecast a reading of 86.7. This was the lowest reading since October 2022.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.