Ifo: German Automotive Industry Sentiment Slips in June
Sentiment in the German automotive industry deteriorated in June, as companies evaluated their current business conditions as "considerably worse." The business climate indicator declined to -21.4 points from 20.7 points in May, the ifo Institute said Friday. Conversely, the sector is "significantly less pessimistic" regarding the upcoming months. ifo industry expert Anita Wölfl noted that the industry is supported by Germany and other European countries, with electromobility still viewed as a growth driver in the continent's largest economy.
Sentiment in the German automotive industry deteriorated in June, as companies evaluated their current business conditions as "considerably worse." The business climate indicator declined to -21.4 points from 20.7 points in May, the ifo Institute said Friday.
Conversely, the sector is "significantly less pessimistic" regarding the upcoming months. ifo industry expert Anita Wölfl noted that the industry is supported by Germany and other European countries, with electromobility still viewed as a growth driver in the continent's largest economy.