German business confidence suffers as trade war ramps up

Business confidence in Germany fell in June to its lowest in more than a year, suggesting the mood among company executives is darkening as the world edges toward a full-blown trade war.

Activity declined in all four sectors measured by the Munich-based Ifo institute in Monday’s survey – manufacturing, services, trade and construction.

The readings added to signs that Europe’s biggest economy is cooling after a strong 2017, though economists said a recession was not on the cards.

Reuters

Trade continues to weigh at the start of the week

EUR/USD – Euro steady as German business confidence within expectations

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