According to a survey released by the Ifo Institute, German business sentiment deteriorated more than expected in June 1 . The ifo Geschäftsklimaindex fell to 87.3 points, down from 88.6 points in June. This marks the third consecutive decline in business sentiment. Companies were notably more dissatisfied with current business conditions, and expectations also declined. The situation in the German economy is becoming increasingly gloomy. In the manufacturing sector, the business climate index declined, driven by significantly worse assessments of the current situation. Additionally, expectations were more pessimistic, and companies are receiving fewer new orders. Capacity utilization decreased by 1.4 percentage points to 83.0%, falling below the long-term average of 83.6% for the first time in over two years.