Sentiment in German business has clouded over. The ifo Business Climate Index fell to 92.3 points in June, down from 93.0 points in May. Companies were somewhat less satisfied with their current business situation. Their expectations turned markedly more pessimistic. The threat of gas shortages is of great concern to the German economy. In manufacturing, the index took a significant hit. Companies assessed the current situation as slightly less good. Moreover, they are considerably more pessimistic about the second half of the year. The chemical industry is thoroughly alarmed. In the service sector, the business ... (full story)