(Reading time: 2 - 3 minutes)
Dear Readers, The ifo business climate in July did not bring a turnaround. The most important component for us - the industry's expectations for the future - has now declined eight times in a row. The fact that the ifo economic clock is still in the boom quadrant is due to the historically high values at the beginning of the year. Step by step, however, this indicator is now moving in the direction of the downturn. For the fifth month in a row, the ifo traffic light has also been set to "red". Red traffic light values make a contraction of the economy more likely than an expansion.