IFO’s Economist: German economy heading towards stagnation in Q2

Following the release of the German IFO Business Survey, the institute’s Economist Klaus Wohlrabe said that the “German economy heading towards stagnation in Q2.”

Additional quotes

German economy is treading water.

Strong collapse in expectations in industry is striking.

Industry export expectations have fallen markedly.

Rate hikes have appeared to dampen demand.

Market reaction

EUR/USD was last seen trading at 1.0782, up 0.12% on the day.