Germany: Ifo Business Climate Survey to decline to 100.9 in July - Nomura

Analysts at Nomura expect the German Ifo Business Climate Survey to decline to 100.9 in July from 101.8 in June.

Key Quotes

“We think this decline will be driven mainly by a further decline in business expectations (we forecast a drop in Ifo business expectations to 97.4 from 98.6 in June).”

“With trade tensions intensifying between Germany and the US, we expect the deterioration in sentiment to continue in July. Crucial to this issue will be the meeting between Trump and Junker on 25 July, during which the main focus will be on possible tariffs on the auto sector in Europe.”