German Ifo World Economic Climate Indicator dropped from -2.4 to -10.1 in Q1. Current Situation Indicator dropped from 1.4 to -5.4. Expectations Indicator dropped from -6.1 to -14.7.
Ifo President Clemens Fuest warned that “experts expect significantly weaker growth in world trade”. And, “trade expectations are at their lowest level since the outbreak of the trade conflict last year.” “Respondents also expect weaker private consumption, lower investment activity, and declining short- and long-term interest rates.
