Another proof that Brexit was a „black swan“: IFO-business climate index climbs again


Probably also not believing in a Brexit, German managers have again provided for a rise in the German IFO-business climate index from 107.8 in May to 108.7 in June 2016, as the institute announced in its press-statement today. 

Even if the Brexit had not happened, such a rise would be „untimely“ as explained elsewhere, but given the positive Brexit vote today, its seems a bit anachronistic to put it mildly.

The consequences of a Brexit (also for the IFO index) remain to be seen in the coming months. However, it seems that the German economy stumbles into a major global recession yet again totally unprepared – and that is rather scary.

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