- Latest data released by Ifo – 26 September 2022
- Prior 88.5; revised to 88.6
- Expectations 75.2 vs 79.0 expected
- Prior 80.3; revised to 80.5
- Current conditions 94.5 vs 96.0 expected
- Prior 97.5
This is a stinker of a report and won’t do the euro much comfort as it just reaffirms a further deterioration in economic sentiment in Europe’s largest economy. As inflation continues to stay elevated, that is weighing on demand ahead of a rather bleak winter in which the energy crisis will take center stage. Sure, Germany has enough gas storage to stave off a catastrophe but a recession is already on the cards surely.