More broad based weakening in German Ifo expected

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

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, we expect expectations to weaken more than current conditions, due to concerns over Greece and financial market volatility.",says Societe Generale.