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German Automotive Industry Sees Continued Decline in June

Istanbul: Germany's automotive sector remains mired in a prolonged downturn, with the Ifo Business Climate Index for the industry dropping for the third consecutive month in June to minus 32.2 points, down from minus 31.7 points in May, the Ifo Institute reported Thursday.

According to Anadolu Agency, the uncertain situation in global trade is contributing to the industry's struggles, compounded by tougher conditions in global sales markets. Anita Wolfl, an Ifo industry expert, noted that signals from abroad remain unclear, preventing any optimism within the sector.

The industry's assessment of its current business situation further deteriorated, with the indicator falling to minus 36.4 points in June from minus 35.1 points in May. Despite this, business expectations showed a marginal improvement, rising to minus 27.8 points from minus 28.3 points in May.

Companies reported a notable improvement in their order backlog compared to the previous month, although it remained in negative territory. Export expectations, however, fluctuated, declining to minus 13.7 points in June from minus two points in May.