- IFO likely to reduce 2014 German GDP forecast toward 1.5% from 2.0%
- expects Q3 German GDP to be close to zero
- auto and chemical sectors have been bright spots recently, construction still at good level
- domestic consumption remains solid
- Ukaine crisis definitely a burden but hard to quantify
- companies with ties to Russia somewhat more pessimistic
IFO chief economist in his usual saumary of the data
EURUSD still around 1.3190 but euro drifting lower overall as USD sellers appear
