• Prior 91.7; revised to 91.5
  • Current conditions 93.7 vs 93.5 expected
  • Prior 94.8
  • Outlook 83.6 vs 88.0 expected
  • Prior 88.6; revised to 88.3

It's softer readings across the board as compared to May and that reflects worsening conditions in the German economy towards the end of Q2. This was also reflected in the PMI data at the end of last week, and feeds further to stronger recession risks as we move towards the second half of the year.