Ifo Institute's Business Climate indicator for Germany is falling off the cliff:
In simple terms, current business situation assessment has now fallen to its lowest reading since March 2015, forward business expectations are the lowest since June 2009, and overall Business Climate index is at its lowest reading since November 2012.
August 2019 marks fifth consecutive month of decline in the overall Business Climate index, current Business Situation index, and Business Expectations index.
Overall, the indicator is still pointing to a downturn in growth, as opposed to a recession:
The Dispersion Index - a measure of the degree of businesses-perceived uncertainty about the future direction of the economy - has now risen to the levels last seen in April 2010.
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