According to the Dresden IFO Institute, the mood in the East German economy has decreased slightly in June within the month.
The companies surveyed assessed their business situation somewhat worse than in the previous month and slightly reduced their business expectations compared to May, the institute said.
Significant clouding of the mood in industry
In the industry, the business climate clouded clearly in June, it said. The business situation is rated significantly less than in the previous month, but the future expectations are noticeably better. In the service sector, the business climate has heated up somewhat and worsened slightly in the construction industry.
Differentiated picture in retail
There is a differentiated picture in stores. While the companies in wholesale assessed their current situation much better than in May and the expectations for the future business course, the companies in retail reported somewhat poorer business and also lowered expectations.
The IFO business climate East Germany is based on around 1,700 monthly reports of companies in the processing trade, the service sector, trade and the main building industry. You are asked to assess your current business situation and to inform your expectations for the next six months.
President of the Dresden IFO Institute secured
There was good news for the IFO Institute in Dresden itself in the previous week. The existence of the institute is also secured with the decided double budget for Saxony. The Dresden location of IFO was originally on the end of the Free State for Recheral Plans.