German Business Confidence Falls In July: Ifo
Mohammad Ali (@ChaudhryMAli88) Published July 25, 2016 | 01:56 PM
FRANKFURT, (APP - UrduPoint / Pakistan Point News - 25th july,2016) - German business confidence fell in July in the first reading of companies' mood since Britain's June vote to quit the European Union, the Ifo economic institute said on Monday. The Ifo institute's closely-watched index fell to 108.3 points in July from June's figure of 108.7, which had been based on data collected before the Brexit referendum. Falling confidence was due to "far less optimistic business expectations on the part of companies," Ifo head Clemens Fuest said in a statement.
Analysts had forecast a decline in July as uncertainty over the consequences of Brexit begins to make itself felt. Ifo calculates its headline index on the basis of companies' assessments of the current business environment and the outlook for the next six months. The sub-index measuring current business hit 114.7, an increase of 0.2 points over June's reading. But the figure for companies' future outlook dropped, falling 0.9 points to 102.2.
Related Topics
Recent Stories
Zero-tolerance policy to continue against overbilling: Mohsin Naqvi
Govt working to extend retirement age to 65 years: Finance Minister
Synergy Group wins big at the Effie Awards 2024
ICC Champions Trophy 2025: Indian board makes important statement
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 7 May 2024
Today Gold Rate in Pakistan 07 May 2024
Sharjah Animation Conference explores cross-cultural collaboration opportunities ..
Sharjah Public Library provides countless opportunities for young imaginations t ..
Sharjah Police launches 'Your belongings, your responsibility' awareness campaig ..
Dubai Police displays Innovative Tourism Security Services at 'ATM 2024'
Mohammad Haris, Aamir Jamal not part of national squad for Ireland, England: Bab ..
Erdogan opens former church to Muslim worshippers
More Stories From World
-
Star dog Messi will interview stars on Cannes red carpet
8 minutes ago -
Timberwolves maul Nuggets, Brunson fires Knicks over Pacers
18 minutes ago -
GCC keen on exploring further opportunities for cooperation with CARICOM, Albudaiwi says
28 minutes ago -
KSrelief disributes food aid in Abasan Al Kabira, Nuseirat Governorate, Gaza
28 minutes ago -
Turkish scientist's high-tech microplastics detection gets international recognition
38 minutes ago -
Flat-out: Hirscher boosts skiing in mountainless Netherlands
48 minutes ago
-
US soldier detained in custody in Russia for theft
58 minutes ago -
China hospital attack leaves two dead, 21 wounded
58 minutes ago -
Russia to hold US soldier in custody till July for theft
1 hour ago -
Nintendo says announcement on Switch successor 'this fiscal year'
1 hour ago -
Rescuers search for survivors after deadly S.African building collapse
1 hour ago -
Five dead, dozens trapped in South Africa building collapse
2 hours ago