Data shows Germany in a worse state than thought, but hopes for the future picking up

Data released by the CESifo Group has come in broadly inline with expectations for June, as business climate has risen from 105.7 to 105.9 as anticipated.

Current assessment fell slightly more than expected, dropping from 110.0 to 109.4 (109.6 expected). Expectations beat forecasts rising from 101.6 to 102.5 (102.0 expected).