Economic Sentiment in the German Auto Industry Remains Low, Ifo Institute Reports
The Munich-based Ifo Institute for Economic Research has released its June index of the German auto industry’s business climate, showing a third consecutive decline. The index registered a score of minus 32.2 points, a slight decrease from the previous month’s minus 31.7 points, seasonally adjusted.
According to Ifo’s branch expert Anita Wölfl, the uncertain global trade situation is exacerbating already challenging market conditions worldwide. The lack of clear signals from abroad is hindering optimism, she added.
German auto companies evaluated their current business situation as worse in June, with a score of minus 36.4 points, down from minus 35.1 points in May, seasonally adjusted. Meanwhile, their expectations for the future improved slightly, with a score of minus 27.8 points, up from minus 28.3 points in May.
While the companies’ assessment of their current order books improved, albeit still in the negative, the index for export expectations continued its recent fluctuations, falling to minus 13.7 points, down from minus 2.0 points in May, seasonally adjusted.