German Business Sentiment Declines in June

German business sentiment declined in June as reflected by the Ifo Institute's survey results, with the business confidence index dropping to 88.6 from 89.3 in May, below expectations, signaling ongoing economic challenges and stagnation. While the current situation index remained stable at 88.3, expectations among companies deteriorated, notably in manufacturing, trade, and construction sectors. Economists predict a slow GDP growth of only 0.2% for Germany in 2024, emphasizing the country's struggle to fully recover despite initial growth in the first quarter.