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1st LD Writethru: Ifo Business Climate Index declines in June to 107.4 points

Xinhua, June 24, 2015 Adjust font size:

The Ifo Business Climate Index for industry and trade in Germany falls to 107.4 points in June from 108.5 points last month, the Ifo institute reported here on Wednesday.

The business climate in construction improved for the third month in succession, while the indicators in manufacturing, wholesaling and retailing deteriorated.

Manufacturers still plan to ramp up production, but to a lesser extent than previously. Meanwhile, retailers were slightly less satisfied with both their current business situation and their business outlook, Ifo reported.

After reaching the year's highest level in May, assessments of the current business situation deteriorated somewhat, but nevertheless remained good, the Munich-based think tank noted.

"The outlook for the German economy is overcast," Ifo president Hans-Werner Sinn said.

The Ifo Business Climate Index, considered the most important barometer for the German economy, is based on about 7,000 monthly survey responses from firms in manufacturing, construction, wholesaling and retailing. Endit