IFO’s Economist: German economy heading towards stagnation in Q2
Following the release of the German IFO Business Survey, the institute’s Economist Klaus Wohlrabe said that the “German economy heading towards stagnation in Q2.”
Additional quotes
German economy is treading water.
Strong collapse in expectations in industry is striking.
Industry export expectations have fallen markedly.
Rate hikes have appeared to dampen demand.
Market reaction
EUR/USD was last seen trading at 1.0782, up 0.12% on the day.