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June 26, 2023
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Germany IFO 93.7 in Jun-23

- The Germany IFO Business Climate Index in June 2023 dropped to its lowest level since November 2022 at 93.7, signaling a deteriorating business sentiment.
- This decline of 1.33 points below the one-year average and 3.03 points below the long-run average reflects the challenges faced by the German economy, including supply chain disruptions and the lingering effects of the pandemic.

June 23, 2023
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Germany PMI services 54.1 in Jun-23

- The Germany PMI services index for June 2023 decreased to 54.1 from the previous reading of 57.2, indicating a slowdown in the expansion of the services sector.
- Despite the decline, the June 2023 reading is still above the 1-year average by 3.53 points, suggesting overall positive performance in the services sector.

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