More broad based weakening expected in Germany Ifo

The Germany Ifo survey has generally been more resilient in recent months, partly as it covers a much larger survey group and thus a broader selection of the economy than the PMIs and the ZEW.

In June, the Ifo business climate index to decline to 107.9, from 108.5 in May. 

However, as the general trend in other surveys has been downwards since April, it would be surprising to see no similar trend in the Ifo. 

As in other surveys,expectations are expected to weaken more than current conditions, due to concerns over Greece and financial market volatility.