Ifo Business Survey July 2016 in Brief: The German Economy Proves Resilient

Against the backdrop of the Brexit vote, sentiment in the Germany economy deteriorated slightly. The Ifo Business Climate Index dropped from 108.7 points in June to 108.3 points in July. This was due to far less optimistic expectations on the part of companies. Assessments of the current business situation, by contrast, improved slightly. Overall, the German economy is proving resilient.