Ifo economist says storm clouds are forming for the German economy

<ul><li>Weak demand for industry, order backlog is falling</li><li>Industry export expectations are noticeably down, global rate hikes are dampening demand</li></ul><p>The deterioration in demand conditions and manufacturing recession was already highlighted in the PMI data last week, so this just adds to a bit of colour to that.</p>

This article was written by Justin Low at www.forexlive.com.