- Prior 93.6; revised to 93.4
- Current conditions 94.8 vs 94.8 expected
- Prior 95.0; revised to 93.1
- Expectations 88.6 vs 91.9 expected
- Prior 92.2; revised to 91.7
This marks the first drop in the headline reading since October last year as German economic conditions begin to run into a bit of trouble. It is quite evident that the drag in manufacturing conditions is starting to weigh on Europe’s largest economy. On the bright side at least, is that the expectations reading did move up more than anticipated.
Update: The earlier reading had the expectations and current conditions swapped (Reuters error) so in fact this is a rather poor report with the outlook also worsening.
/EUR