Euro Area Economic Situation Worsens: Ifo

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The economic situation in the euro area worsened in the second quarter, according to an advance reading by the Ifo World Economic Survey (WES), though expectations for the next six months have brightened.

The overall economic climate indicator was unchanged at 95.1 from the reading in the first quarter. However, experts judged the situation had worsened, with that index falling to 92.3 in the second quarter versus 95.1 in the first quarter.

Expectations, however, rose to 96.7 in the second quarter from 95.1 in the first quarter.