German IFO Business Climate Index June 2008
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According to IFO in manufacturing the business climate worsened significantly. Firms have scaled back both their current situation assessment as well as the six-month business outlook considerably from May. Expectations fell from a revised 97.2 to 94.7. They expect weaker stimulus from export business in the coming months, but despite the strong euro, they do not fear a slump in exports. Increases in employment will be weaker, according to the survey responses.
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