Germany's business confidence deteriorated to the lowest since mid-2020, adding to the fear of recession, survey results from the ifo Institute showed Monday.
The business confidence index fell to 88.6 in July from a revised 92.2 in June. The score has reached its lowest value since June 2020 and was below economists' forecast of 90.2.
Companies were expecting business to become much more difficult in the coming months. They were also less satisfied with their current situation.
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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.