FRANKFURT (AFX) - Germany's IFO research institute does not expect the country to slip into recession but a turnaround in the economic downtrend is not yet in sight, according to Professor Gernot Nerb, head of IFO's macroeconomic unit. Nerb said the state of the economy is now at a "low" level, "even lower than after the Asian crisis" in the late 1990s. But he said economic conditions are far from those that occurred in 1993 when the IFO business climate index hovered near the 80s. IFO earlier said the IFO business climate index for June was down to 89.5 from 90.8 in May and 100.4 in June last year. He said he there are no signs of recession setting in but 'one can't see a turnaround" in the meantime. He declined to say if IFO was changing its economic forecast of 1.2 pct GDP growth for the full year.