Ifo – June
Business Current
Climate Situation Expectations

Median* 101.1 99.7 102.0
High forecast 102.3 100.5 103.4
Low forecast 100.4 96.0 101.0
Number of responses 15 8 7

Barclays Cap. 101.2 99.1 103.4
Action Economics na na na
Commerzbank 101.5 na na
Capital Economics 100.5 na na
West LB 101.0 na na
Credit Agricole 101.2 100.5 102.0
JP Morgan na na na
Nomura 102.3 na na
4Cast 100.9 99.7 102.0
Natixis 101.0 100.0 102.0
BNP Paribas 100.5 na na
Unicredit 101.0 na na
UBS 101.5 100.5 102.6
DZ Bank 100.4 99.7 101.0
Goldman Sachs 102.0 96.0 na
Citi 101.2 na na
Soc. Generale 100.7 99.0 102.5

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* Median is based on above forecasts and is not intended to represent
a consensus.

The survey was conducted on Friday, June 18.

[TOPICS: M$XDS$,M$X$$$]