At -7.5 points, the economic sentiment index of the GKI economic research institute shows its weakest value since March 2021. The consumer confidence index continued to deteriorate, with -39.4 points reminiscent of the time during the first outbreak of the Covid pandemic in spring 2020. Business expectations fell by 3 points, while consumer expectations dropped again by around 10 points compared to May.
However, the business confidence index is still positive at 3.7 points. In industry, only the export orders improved, while construction and trade are pessimistic about the future. The euphoria has also evaporated in the service sector.