Germany ifo business climate index
Germany ifo business climate index detailing current business situations and future expectations.
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| Indicator | 09-2026 | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | 10-2025 | 09-2025 | 08-2025 | 07-2025 | 06-2025 | 05-2025 | 04-2025 | 03-2025 | 02-2025 | 01-2025 | 12-2024 | 11-2024 | 10-2024 | 09-2024 | 08-2024 | 07-2024 | 06-2024 | 05-2024 | 04-2024 | 03-2024 | 02-2024 | 01-2024 | 12-2023 | 11-2023 | 10-2023 | 09-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Germany4 | ||||||||||||||||||||||||||||||||||||||
| Business climate index2 | 89.9 | 88.8 | 86.7 | 85.6 | 85 | 84.5 | 86.3 | 88.5 | 87.6 | 87.6 | 87.9 | 88.3 | 87.7 | 88.9 | 88.5 | 88.3 | 87.4 | 87 | 86.8 | 85.2 | 85.4 | 84.9 | 85.6 | 86.4 | 85.5 | 86.5 | 87 | 88.2 | 88.9 | 89.2 | 87.8 | 85.8 | 85.6 | 86.8 | 87.3 | 86.9 | 86.2 | |
| Current business situation index | 89.5 | 88.5 | 86.5 | 87 | 86.1 | 85.5 | 86.7 | 86.6 | 85.6 | 85.6 | 85.5 | 85.3 | 85.6 | 86.3 | 86.5 | 86.2 | 86.1 | 86.5 | 85.7 | 84.9 | 86 | 85 | 84.2 | 85.7 | 84.4 | 86.3 | 87.1 | 88.2 | 88.3 | 88.9 | 88.1 | 86.9 | 87 | 88.6 | 89.5 | 89.2 | 88.8 | |
| Business expectations index | 90.4 | 89 | 86.8 | 84.3 | 83.9 | 83.6 | 86 | 90.3 | 89.5 | 89.7 | 90.4 | 91.5 | 89.8 | 91.5 | 90.7 | 90.5 | 88.8 | 87.5 | 87.8 | 85.5 | 84.8 | 84.8 | 87.1 | 87.2 | 86.6 | 86.7 | 86.9 | 88.2 | 89.4 | 89.4 | 87.4 | 84.6 | 84.3 | 85.1 | 85.1 | 84.7 | 83.6 | |
| Business climate balance2 | -3.4 | -5.9 | -10.6 | -12.8 | -14.3 | -15.2 | -11.3 | -6.6 | -8.6 | -8.5 | -7.8 | -6.9 | -8.4 | -5.8 | -6.5 | -6.9 | -8.9 | -9.9 | -10.4 | -13.7 | -13.3 | -14.4 | -12.8 | -11.1 | -13.1 | -10.9 | -9.9 | -7.2 | -5.8 | -5.1 | -8.2 | -12.5 | -12.9 | -10.2 | -9.3 | -10 | -11.6 | |
| Current business situation balance | 3.8 | 1.7 | -2.8 | -1.8 | -3.9 | -5.3 | -2.4 | -2.6 | -4.9 | -4.9 | -5.1 | -5.7 | -5 | -3.3 | -3 | -3.6 | -3.9 | -3 | -4.8 | -6.5 | -3.9 | -6.2 | -8.1 | -4.8 | -7.8 | -3.3 | -1.6 | 1 | 1.2 | 2.5 | 0.6 | -1.9 | -1.9 | 1.8 | 3.8 | 3.2 | 2.3 | |
| Business expectations balance | -10.3 | -13.3 | -18 | -23.3 | -24.2 | -24.7 | -19.7 | -10.6 | -12.3 | -12 | -10.4 | -8.1 | -11.7 | -8.2 | -9.9 | -10.2 | -13.8 | -16.6 | -15.8 | -20.6 | -22.2 | -22.1 | -17.4 | -17.1 | -18.4 | -18.2 | -17.8 | -15 | -12.5 | -12.5 | -16.6 | -22.6 | -23.2 | -21.5 | -21.5 | -22.3 | -24.6 | |
| ifo Business Uncertainty | 65.4 | 64.8 | 66.6 | 66.1 | 67.1 | 68.7 | 67.2 | 64.7 | 65.5 | 65.7 | 66.1 | 66 | 65 | 64.2 | 64.2 | 63.2 | 66.2 | 67.8 | 65.9 | 66.6 | 65.5 | 66.6 | 65.9 | 66.2 | 65.7 | 64.8 | 64.5 | 65.1 | 65 | 65.3 | 65.9 | 66.8 | 67.5 | 65.5 | 65.8 | 66 | 65.9 | |
| Business cycle traffic light: probability of expansion | 94.43 | 93.81 | 65.58 | 39.58 | 20.21 | 5.22 | 21.59 | 76.31 | 48.9 | 47.3 | 59 | 69.13 | 49.85 | 84.24 | 83.9 | 88.02 | 79.37 | 70.56 | 69.9 | 30.18 | 26.86 | 13.01 | 23.18 | 39.99 | 9.36 | 20.8 | 23.12 | 64.67 | 85.44 | 93.64 | 81.29 | 26.6 | 14.84 | 32.97 | 54.87 | 42.24 | 11.1 | |
| By sector2 | ||||||||||||||||||||||||||||||||||||||
| Industry and trade (manufacturing, trade, construction)5 | ||||||||||||||||||||||||||||||||||||||
| Industry and trade: business climate index2 | 91.3 | 90.4 | 88.2 | 86.6 | 85.4 | 85.4 | 86.7 | 88.1 | 87.9 | 86.9 | 87.2 | 88.1 | 87.7 | 88 | 88.3 | 87.7 | 87.4 | 85.4 | 85.8 | 83.7 | 82.7 | 83 | 83.8 | 83.9 | 83.8 | 84.9 | 85.7 | 87.4 | 89.1 | 88.5 | 87.5 | 84.2 | 85.1 | 85.4 | 86.6 | 85.4 | 85.9 | |
| Industry and trade: current situation index | 88.9 | 88.9 | 85.7 | 86.2 | 85.5 | 85 | 85.2 | 85 | 83.9 | 82.8 | 82.7 | 82.5 | 83.5 | 83.4 | 84.5 | 83.3 | 84.2 | 83 | 82.3 | 81.2 | 81.6 | 80.8 | 80.9 | 80.7 | 81.5 | 83 | 84.1 | 86.9 | 87.8 | 87 | 88.4 | 86.1 | 87.5 | 87.2 | 88.8 | 87.6 | 88.8 | |
| Industry and trade: expectations index | 93.7 | 91.8 | 90.7 | 86.9 | 85.2 | 85.8 | 88.1 | 91.3 | 92.1 | 91.2 | 91.9 | 94.1 | 92.1 | 92.8 | 92.2 | 92.3 | 90.8 | 87.9 | 89.5 | 86.3 | 83.8 | 85.3 | 86.9 | 87.2 | 86.1 | 86.9 | 87.3 | 87.9 | 90.4 | 89.9 | 86.6 | 82.4 | 82.8 | 83.7 | 84.4 | 83.2 | 83 | |
| Industry and trade: business climate balance2 | -8.1 | -10.1 | -14.7 | -18.1 | -20.6 | -20.5 | -17.9 | -14.9 | -15.3 | -17.4 | -16.8 | -14.9 | -15.7 | -15.1 | -14.5 | -15.7 | -16.3 | -20.5 | -19.7 | -24 | -26.2 | -25.5 | -23.8 | -23.7 | -24 | -21.6 | -19.9 | -16.3 | -12.8 | -14.1 | -16.2 | -23 | -21.1 | -20.5 | -18.1 | -20.6 | -19.6 | |
| Industry and trade: current situation balance | -6.8 | -6.8 | -13.7 | -12.7 | -14.2 | -15.3 | -14.8 | -15.4 | -17.8 | -20.1 | -20.2 | -20.8 | -18.6 | -18.8 | -16.4 | -19 | -17.1 | -19.7 | -21.3 | -23.5 | -22.6 | -24.4 | -24.2 | -24.6 | -22.9 | -19.8 | -17.2 | -11.2 | -9.3 | -11 | -8 | -13 | -9.8 | -10.6 | -7.1 | -9.6 | -7.1 | |
| Industry and trade: expectations balance | -9.5 | -13.3 | -15.6 | -23.4 | -26.8 | -25.6 | -20.9 | -14.5 | -12.7 | -14.5 | -13.3 | -8.8 | -12.7 | -11.4 | -12.6 | -12.4 | -15.5 | -21.3 | -18 | -24.6 | -29.7 | -26.6 | -23.4 | -22.8 | -25.1 | -23.3 | -22.5 | -21.3 | -16.2 | -17.2 | -24 | -32.5 | -31.7 | -29.9 | -28.5 | -30.9 | -31.3 | |
| Manufacturing1 | ||||||||||||||||||||||||||||||||||||||
| Manufacturing: business climate2 | -2.8 | -4.2 | -9.7 | -12.6 | -14.9 | -15.7 | -14.4 | -11.4 | -12.3 | -14.6 | -14 | -12.1 | -13.4 | -12.3 | -12.2 | -14.1 | -14.2 | -18.3 | -16.6 | -21.9 | -24.7 | -24.2 | -22 | -21 | -21.3 | -17.7 | -14.4 | -10.2 | -7.9 | -9.4 | -10.4 | -16.7 | -14.9 | -16 | -13.3 | -15.8 | -15.3 | |
| Manufacturing: current situation | -3.1 | -1.3 | -10.5 | -9.2 | -9 | -11.8 | -14.9 | -13.8 | -17.7 | -19.6 | -20.4 | -21.6 | -18.9 | -18.3 | -17.5 | -21.1 | -18 | -19.4 | -22.3 | -25.8 | -24.7 | -26.9 | -25.4 | -25.6 | -22 | -18.3 | -14.2 | -6.4 | -7 | -8.9 | -3.9 | -8.2 | -4.7 | -6.8 | -3.4 | -4.6 | -2 | |
| Manufacturing: expectations | -2.4 | -7.1 | -8.8 | -15.9 | -20.6 | -19.5 | -13.8 | -9 | -6.7 | -9.4 | -7.4 | -2.2 | -7.8 | -6.2 | -6.7 | -7 | -10.2 | -17.1 | -10.7 | -18 | -24.7 | -21.6 | -18.5 | -16.3 | -20.5 | -17.2 | -14.7 | -14 | -8.9 | -10 | -16.6 | -24.8 | -24.6 | -24.8 | -22.6 | -26.5 | -27.8 | |
| Trade3 | ||||||||||||||||||||||||||||||||||||||
| Trade: business climate2 | -17.2 | -20.5 | -23.5 | -26.8 | -30 | -32.7 | -24.6 | -22.1 | -21.3 | -24.8 | -22.8 | -21.8 | -23 | -21.5 | -20.3 | -19.3 | -20.4 | -26.9 | -23.9 | -26.4 | -29.6 | -29.6 | -26.9 | -29.6 | -30 | -27.5 | -27.9 | -23.8 | -17.3 | -22 | -23.1 | -30.9 | -29.6 | -26.6 | -22.4 | -27.3 | -25.1 | |
| Trade: current situation | -13.3 | -16.7 | -19.2 | -20.6 | -23.3 | -25.1 | -19.1 | -22.8 | -20.8 | -24.7 | -23.4 | -23.1 | -21 | -21.6 | -18 | -18.7 | -20.2 | -21.8 | -21.7 | -22.4 | -23.1 | -25.1 | -23.4 | -26.4 | -26 | -24.6 | -23.1 | -18.6 | -11.8 | -14.9 | -14.7 | -22 | -17.7 | -15.7 | -10.8 | -16.4 | -13.6 | |
| Trade: expectations | -21 | -24.3 | -27.6 | -32.9 | -36.5 | -39.9 | -30 | -21.3 | -21.8 | -24.9 | -22.3 | -20.6 | -25 | -21.3 | -22.6 | -19.8 | -20.5 | -31.9 | -26 | -30.3 | -35.8 | -33.9 | -30.3 | -32.6 | -34 | -30.3 | -32.6 | -28.8 | -22.5 | -28.9 | -31 | -39.3 | -40.8 | -36.9 | -33.3 | -37.6 | -36 | |
| Wholesaling1 | ||||||||||||||||||||||||||||||||||||||
| Wholesaling: business climate2 | -11.4 | -15 | -20.9 | -22.5 | -25.9 | -28.4 | -21.8 | -18 | -18.9 | -22.3 | -19.7 | -20.8 | -22.2 | -19.5 | -18.1 | -18.2 | -21.8 | -27.6 | -24.7 | -27.8 | -32.5 | -35 | -30.1 | -32.3 | -33.2 | -31 | -29.7 | -27.1 | -20.2 | -27.1 | -27.8 | -33.9 | -31.7 | -29.2 | -24.1 | -30.7 | -27.4 | |
| Wholesaling: current situation | -9.7 | -12.1 | -19.3 | -18.4 | -20.7 | -23.2 | -19.1 | -20.3 | -20.1 | -25.9 | -24.3 | -27 | -23.4 | -23.1 | -19.8 | -21.8 | -25.7 | -25.8 | -27.7 | -28 | -30.3 | -35.3 | -31.2 | -33.2 | -32.4 | -31.1 | -28 | -25.6 | -18.4 | -23.8 | -20.7 | -25.7 | -20.1 | -18.1 | -12.5 | -18.2 | -16.1 | |
| Wholesaling: expectations | -13 | -17.8 | -22.5 | -26.6 | -30.9 | -33.5 | -24.5 | -15.7 | -17.6 | -18.7 | -14.9 | -14.3 | -21 | -15.8 | -16.5 | -14.6 | -17.9 | -29.5 | -21.6 | -27.7 | -34.6 | -34.7 | -28.9 | -31.3 | -34 | -30.8 | -31.5 | -28.6 | -21.9 | -30.5 | -34.6 | -41.7 | -42.6 | -39.7 | -34.9 | -42.3 | -38 | |
| Retailing1 | ||||||||||||||||||||||||||||||||||||||
| Retailing: business climate2 | -26.9 | -29 | -28.8 | -32.5 | -37.3 | -37.9 | -29.9 | -28 | -24.4 | -28.7 | -27.7 | -23.6 | -23.7 | -24 | -22.8 | -20.3 | -18.6 | -25.7 | -22.6 | -23.9 | -25.4 | -23.1 | -22.3 | -25.4 | -25.8 | -23.1 | -25.4 | -19.5 | -13.5 | -14.5 | -17.6 | -27.7 | -26.6 | -22.8 | -20.2 | -22.4 | -21.7 | |
| Retailing: current situation | -20.1 | -23.7 | -20.2 | -23.4 | -27.8 | -25.9 | -20.1 | -26.3 | -21.4 | -23.5 | -21.5 | -17.3 | -17.8 | -19.6 | -14.3 | -12.2 | -11.8 | -16.9 | -13.6 | -13.6 | -14 | -12.9 | -12.5 | -16.8 | -17.8 | -15.6 | -16.3 | -7.2 | -2.2 | -2 | -7.5 | -18.2 | -15.4 | -12.3 | -9.1 | -13.8 | -10.2 | |
| Retailing: expectations | -33.5 | -34.2 | -36.9 | -41.1 | -46.2 | -49.1 | -39.1 | -29.6 | -27.2 | -33.7 | -33.6 | -29.6 | -29.5 | -28.2 | -30.9 | -28.1 | -25.2 | -34.1 | -31.2 | -33.6 | -36.2 | -32.7 | -31.6 | -33.6 | -33.5 | -30.2 | -33.9 | -31.1 | -24.2 | -26.1 | -27.2 | -36.6 | -37.2 | -32.7 | -30.6 | -30.6 | -32.5 | |
| Construction1 | ||||||||||||||||||||||||||||||||||||||
| Construction: business climate2 | -17 | -16.9 | -19.8 | -22.5 | -23.9 | -23.5 | -15.2 | -15.3 | -14.2 | -14.7 | -15.5 | -15 | -15.3 | -16.2 | -15.2 | -15.6 | -17.8 | -21.2 | -22.4 | -28.7 | -27.1 | -25.7 | -28.1 | -25.7 | -26 | -27.5 | -28 | -26.9 | -26.4 | -28.8 | -30.7 | -34.9 | -34 | -32.6 | -29 | -31.1 | -31.9 | |
| Construction: current situation | -12.8 | -13.2 | -12.7 | -15.1 | -15.1 | -11.2 | -3.2 | -7.9 | -10.1 | -11.4 | -9.3 | -11.1 | -13.8 | -14.2 | -11.7 | -12.1 | -12.1 | -14.2 | -12 | -14.9 | -14.1 | -14.4 | -21.3 | -18.1 | -18.8 | -18.2 | -18.7 | -17.1 | -16.1 | -17.2 | -16 | -17.9 | -20.1 | -18.4 | -16.3 | -17.1 | -16.8 | |
| Construction: expectations | -21.1 | -20.5 | -26.6 | -29.6 | -32.3 | -35 | -26.5 | -22.5 | -18.2 | -17.9 | -21.5 | -18.8 | -16.7 | -18.1 | -18.7 | -19 | -23.3 | -27.9 | -32.1 | -41.4 | -39.1 | -36.4 | -34.7 | -33 | -32.9 | -36.2 | -36.9 | -36.2 | -36.1 | -39.6 | -44.2 | -50.3 | -46.8 | -45.7 | -40.9 | -44.1 | -45.8 | |
| Services1 | ||||||||||||||||||||||||||||||||||||||
| Services: business climate2 | 0.7 | -2.1 | -4.3 | -5 | -6.8 | -10.9 | -4.9 | 0 | -2.5 | -1.9 | 0.7 | 0.1 | -3.1 | 2.5 | 2.7 | 3.6 | -0.2 | -0.6 | -1 | -4.2 | -2 | -5.3 | -3.4 | 0.2 | -3.1 | -1.2 | 0.6 | 3.8 | 1.9 | 3.2 | 0.4 | -3.8 | -4.6 | -1.2 | -2.3 | -1.4 | -4.2 | |
| Services: current situation | 14 | 9.4 | 8.4 | 10 | 6 | 5.3 | 9.9 | 9.1 | 8.4 | 9.1 | 10.3 | 8.2 | 7.1 | 11.4 | 9.9 | 11.4 | 11 | 12.3 | 11.6 | 10.2 | 14.1 | 9.8 | 7.2 | 13.9 | 7 | 12.4 | 13.4 | 13.9 | 12.2 | 15.7 | 10.1 | 8.9 | 7.3 | 14 | 13 | 13.9 | 10.2 | |
| Services: expectations | -11.7 | -13 | -16.3 | -18.9 | -18.8 | -25.7 | -18.6 | -8.7 | -12.8 | -12.4 | -8.4 | -7.6 | -12.7 | -6 | -4.3 | -3.9 | -10.8 | -12.7 | -12.8 | -17.7 | -16.8 | -19.4 | -13.4 | -12.6 | -12.7 | -14 | -11.3 | -5.9 | -7.8 | -8.7 | -8.8 | -15.7 | -15.8 | -15.4 | -16.4 | -15.6 | -17.7 | |
| SMEs and large enterprises (KfW-ifo SME Barometer)6 | ||||||||||||||||||||||||||||||||||||||
| Germany, all economic activities6 | ||||||||||||||||||||||||||||||||||||||
| SMEs: Business climate2 | -8.12 | -12.42 | -17.02 | -21.32 | -21.42 | -21.82 | -17.92 | -14.12 | -14.72 | -14.62 | -14.22 | -14.02 | -15.12 | -12.45 | -11.85 | -13.25 | -14.15 | -16.35 | -16.15 | -20.85 | -19.85 | -20.55 | -19.25 | -18.25 | -17.45 | -17.15 | -16.35 | -12.45 | -11.15 | -9.95 | -14.65 | -19.25 | -19.05 | -15.95 | -13.95 | -14.45 | -16.35 | |
| SMEs: Business situation | -11.64 | -15.14 | -17.44 | -18.44 | -18.54 | -19.14 | -17.24 | -17.94 | -18.14 | -18.84 | -19.44 | -19.24 | -19.44 | -16.18 | -15.38 | -15.58 | -15.58 | -16.68 | -18.58 | -19.08 | -18.08 | -19.18 | -20.48 | -18.18 | -18.58 | -16.18 | -14.18 | -9.88 | -9.68 | -9.08 | -12.28 | -14.48 | -14.18 | -11.28 | -10.48 | -9.18 | -11.68 | |
| SMEs: Business expectations | -5.05 | -10.05 | -16.85 | -24.25 | -24.35 | -24.35 | -18.85 | -10.75 | -11.65 | -10.85 | -9.35 | -9.35 | -11.25 | -9.17 | -8.67 | -11.17 | -13.07 | -16.27 | -14.07 | -22.77 | -21.67 | -21.97 | -18.37 | -18.47 | -16.67 | -18.27 | -18.57 | -14.97 | -12.77 | -11.07 | -17.07 | -23.87 | -23.67 | -20.37 | -17.37 | -19.57 | -20.87 | |
| SMEs: Price expectations | 11.11 | 7.51 | 7.51 | 9.31 | 15.91 | 20.11 | 11.21 | 3.51 | 2.11 | 3.51 | 3.51 | -0.29 | -0.89 | 2.15 | 2.65 | 1.15 | 0.85 | 2.45 | 2.55 | 4.55 | 3.95 | 3.55 | -0.45 | 0.65 | 0.35 | 1.15 | 1.65 | 1.15 | -0.05 | -1.45 | -2.45 | -0.75 | 3.95 | 5.65 | 3.75 | 1.75 | 1.25 | |
| SMEs: Employment expectations | -2.97 | -5.17 | -7.17 | -11.27 | -9.47 | -11.77 | -9.17 | -6.27 | -7.67 | -8.77 | -7.67 | -7.37 | -10.07 | -7.18 | -7.58 | -8.28 | -8.48 | -7.88 | -9.08 | -8.28 | -7.58 | -7.88 | -7.78 | -7.48 | -6.68 | -6.18 | -5.58 | -4.18 | -3.28 | -2.78 | -3.08 | -4.18 | -3.58 | -2.08 | -2.78 | -3.58 | -3.88 | |
| Large enterprises: Business climate2 | -13.75 | -12.65 | -17.35 | -17.25 | -20.35 | -20.75 | -20.55 | -15.85 | -18.75 | -18.75 | -16.85 | -16.05 | -18.15 | -17.5 | -18.8 | -20.3 | -20.1 | -22 | -22.7 | -25 | -25.9 | -25 | -25 | -22.5 | -27.5 | -23.9 | -20.1 | -18.4 | -17 | -15.7 | -17.6 | -24.3 | -22.5 | -23.6 | -21.4 | -24 | -22.3 | |
| Large enterprises: Business situation | -14.76 | -12.56 | -22.66 | -18.06 | -20.86 | -22.56 | -24.26 | -22.46 | -29.26 | -27.16 | -25.56 | -29.16 | -27.56 | -29.62 | -28.62 | -32.22 | -27.92 | -27.12 | -31.82 | -30.62 | -28.22 | -30.52 | -32.62 | -30.12 | -34.62 | -29.62 | -26.32 | -23.42 | -23.92 | -20.42 | -19.42 | -24.02 | -20.32 | -20.62 | -16.62 | -19.12 | -14.62 | |
| Large enterprises: Business expectations | -13.13 | -12.93 | -12.73 | -16.83 | -20.23 | -19.43 | -17.43 | -9.93 | -9.03 | -11.03 | -8.83 | -3.53 | -9.43 | -5.88 | -9.68 | -8.98 | -12.98 | -17.48 | -14.38 | -20.08 | -23.98 | -20.18 | -17.98 | -15.48 | -21.18 | -18.88 | -14.58 | -14.08 | -10.68 | -11.58 | -16.28 | -24.88 | -24.88 | -26.58 | -26.08 | -28.68 | -29.38 | |
| Large enterprises: Price expectations | 5.96 | 6.16 | 8.36 | 15.26 | 17.66 | 19.76 | 8.96 | 7.46 | 3.06 | 4.46 | 2.06 | -0.94 | -1.04 | -1.11 | 0.49 | -1.81 | -0.31 | 6.99 | 1.99 | 3.49 | 4.09 | 2.59 | -0.01 | 0.19 | -2.01 | -1.21 | 2.49 | -1.01 | 0.59 | 0.19 | -0.01 | -1.51 | 1.19 | -0.31 | -1.91 | -0.81 | -0.11 | |
| Large enterprises: Employment expectations | -9.8 | -10.3 | -15.1 | -14.4 | -13.6 | -18.2 | -15.5 | -18.1 | -17.8 | -18.4 | -17.9 | -16.8 | -15.8 | -14.33 | -14.43 | -16.53 | -12.43 | -11.13 | -17.33 | -14.13 | -14.83 | -15.63 | -14.13 | -14.03 | -13.73 | -13.13 | -8.43 | -5.53 | -8.13 | -5.13 | -3.13 | -10.13 | -6.83 | -5.73 | -8.43 | -7.33 | -3.73 | |
| Manufacturing8 | ||||||||||||||||||||||||||||||||||||||
| SMEs: Business climate2 | -5.31 | -11.01 | -16.41 | -25.21 | -24.21 | -25.01 | -24.21 | -18.01 | -17.41 | -17.41 | -17.41 | -16.81 | -17.71 | -17.33 | -16.93 | -19.83 | -20.13 | -23.53 | -24.43 | -26.33 | -28.13 | -28.23 | -23.93 | -24.73 | -23.03 | -23.43 | -22.33 | -19.43 | -16.03 | -17.93 | -20.03 | -23.23 | -22.73 | -19.63 | -16.33 | -16.93 | -17.93 | |
| SMEs: Business situation | -14.15 | -20.75 | -24.05 | -32.35 | -26.75 | -29.05 | -31.55 | -29.35 | -28.85 | -29.85 | -29.95 | -30.25 | -31.05 | -29 | -29.5 | -32.6 | -29.7 | -32.3 | -34.9 | -33.7 | -35.2 | -35 | -30.8 | -32.4 | -29.9 | -29.9 | -29.5 | -25.8 | -20.8 | -25.1 | -21 | -22.6 | -21.4 | -17.5 | -16.8 | -15.1 | -14.3 | |
| SMEs: Business expectations | 2.72 | -1.98 | -9.38 | -18.68 | -22.08 | -21.58 | -17.48 | -7.28 | -6.48 | -5.48 | -5.38 | -3.98 | -4.88 | -6.16 | -5.06 | -7.76 | -11.26 | -15.46 | -14.66 | -19.66 | -21.66 | -22.06 | -17.76 | -17.76 | -16.86 | -17.56 | -15.96 | -13.86 | -11.96 | -11.36 | -19.56 | -24.16 | -24.26 | -21.86 | -16.26 | -18.96 | -21.56 | |
| SMEs: Price expectations | 12.69 | 7.99 | 9.79 | 11.89 | 20.89 | 26.19 | 9.89 | -1.11 | -3.21 | -4.71 | -4.21 | -6.91 | -7.41 | -3.36 | -3.16 | -3.96 | -3.26 | -0.36 | -2.76 | 0.14 | -2.96 | -2.76 | -8.36 | -5.16 | -4.16 | -3.36 | -3.16 | -5.06 | -7.46 | -7.86 | -8.66 | -9.76 | -6.06 | -8.76 | -10.36 | -10.26 | -10.36 | |
| SMEs: Employment expectations | 0.17 | -3.83 | -10.13 | -12.93 | -12.33 | -13.83 | -13.23 | -10.93 | -11.13 | -14.53 | -11.23 | -11.33 | -10.93 | -10.53 | -9.53 | -10.13 | -9.33 | -10.83 | -12.13 | -12.83 | -15.23 | -15.73 | -14.33 | -13.63 | -12.63 | -9.43 | -9.33 | -7.93 | -8.23 | -8.83 | -6.93 | -8.63 | -8.23 | -7.83 | -5.53 | -9.03 | -6.93 | |
| SMEs: Export expectations | 1.92 | -1.98 | -9.08 | -10.48 | -12.98 | -12.98 | -14.28 | -8.68 | -11.58 | -12.48 | -13.88 | -9.58 | -13.08 | -13.77 | -9.87 | -11.97 | -11.97 | -15.97 | -10.07 | -14.17 | -14.97 | -13.67 | -12.87 | -13.37 | -14.47 | -13.87 | -14.77 | -14.17 | -13.67 | -13.17 | -13.67 | -15.47 | -16.97 | -16.77 | -12.87 | -16.37 | -16.57 | |
| Large enterprises: Business climate2 | -10.07 | -6.57 | -15.87 | -15.07 | -19.87 | -19.07 | -24.37 | -16.77 | -18.27 | -19.37 | -17.57 | -15.77 | -18.87 | -18.1 | -22.6 | -25.7 | -26.7 | -30.6 | -28.9 | -31.4 | -33.5 | -28.1 | -27 | -23.2 | -26.2 | -22.6 | -19.2 | -17 | -15.8 | -16.3 | -17.3 | -20.3 | -19.4 | -22.8 | -19.1 | -21.8 | -18.3 | |
| Large enterprises: Business situation | -17.44 | -6.74 | -26.64 | -20.24 | -23.74 | -25.04 | -34.24 | -25.44 | -36.64 | -32.54 | -31.44 | -33.34 | -33.44 | -35.4 | -38.1 | -44.9 | -41.8 | -41.6 | -44.7 | -45.9 | -44 | -41.2 | -41.4 | -38.5 | -39 | -33.3 | -30 | -23.4 | -25.5 | -27.4 | -17.7 | -18.6 | -17.7 | -21 | -12.6 | -16.3 | -9.6 | |
| Large enterprises: Business expectations | -3.76 | -7.26 | -6.16 | -10.86 | -17.16 | -14.16 | -15.56 | -9.06 | -0.36 | -7.16 | -4.46 | 1.34 | -5.06 | -1.37 | -7.87 | -6.87 | -12.37 | -20.67 | -13.67 | -17.57 | -23.97 | -15.77 | -13.47 | -8.57 | -14.27 | -12.97 | -9.37 | -11.67 | -7.27 | -6.17 | -17.77 | -22.57 | -21.67 | -25.17 | -25.67 | -27.57 | -26.87 | |
| Large enterprises: Price expectations | 9.94 | 10.54 | 13.64 | 21.64 | 21.64 | 19.44 | 9.54 | 5.04 | 0.24 | 0.04 | -2.26 | -5.36 | -3.46 | -3.12 | -1.12 | -5.62 | -2.92 | 6.78 | -1.22 | 1.38 | -1.92 | -1.82 | -4.42 | -3.22 | -4.72 | -3.42 | -0.32 | -2.92 | 1.78 | -1.62 | 1.88 | -1.22 | -2.52 | -2.92 | -9.42 | 1.08 | -0.12 | |
| Large enterprises: Employment expectations | -8.81 | -8.81 | -19.41 | -13.31 | -18.71 | -19.11 | -17.91 | -20.51 | -22.01 | -20.01 | -23.41 | -21.01 | -17.81 | -17.94 | -21.04 | -23.34 | -14.74 | -12.94 | -21.84 | -18.64 | -14.04 | -16.24 | -12.54 | -15.54 | -14.74 | -14.64 | -4.24 | -3.14 | -7.44 | -6.94 | 0.26 | -7.84 | -6.74 | -8.44 | -9.74 | -9.14 | -3.74 | |
| Large enterprises: Export expectations | -1.75 | 9.25 | -11.95 | -11.05 | -13.05 | -6.35 | -2.55 | -2.45 | -4.45 | -4.25 | -7.95 | -2.15 | 0.55 | -7.75 | -5.75 | -8.65 | -6.75 | -20.45 | -7.45 | -9.45 | -10.15 | -11.65 | -10.35 | -14.45 | -14.25 | -10.85 | -4.85 | -3.75 | -1.25 | -4.95 | -7.35 | -11.95 | -13.85 | -10.85 | -9.65 | -7.85 | -13.85 | |
| Construction6 | ||||||||||||||||||||||||||||||||||||||
| SMEs: Business climate2 | -8.9 | -9.7 | -13.1 | -15.8 | -16 | -16.9 | -7.2 | -6.6 | -6.3 | -7.7 | -8 | -6.3 | -8.7 | -8.23 | -9.03 | -9.43 | -12.23 | -14.43 | -17.33 | -22.73 | -19.53 | -18.53 | -20.53 | -18.93 | -19.33 | -21.93 | -21.73 | -20.23 | -20.33 | -22.03 | -25.63 | -29.03 | -27.93 | -26.33 | -22.93 | -25.83 | -25.33 | |
| SMEs: Business situation | -10.69 | -11.29 | -11.99 | -13.29 | -11.89 | -9.99 | -1.29 | -5.49 | -6.69 | -9.59 | -7.79 | -8.19 | -11.69 | -12.34 | -12.04 | -11.34 | -11.94 | -12.04 | -13.14 | -14.54 | -13.74 | -14.64 | -19.94 | -17.24 | -18.74 | -19.34 | -19.04 | -17.34 | -16.94 | -16.04 | -17.14 | -17.54 | -20.74 | -18.64 | -14.94 | -18.24 | -16.74 | |
| SMEs: Business expectations | -7.78 | -8.88 | -14.88 | -18.98 | -20.48 | -23.88 | -13.38 | -8.28 | -6.78 | -6.68 | -8.78 | -5.18 | -6.58 | -5.01 | -6.81 | -8.31 | -13.31 | -17.31 | -21.91 | -30.81 | -25.51 | -22.91 | -21.81 | -21.21 | -20.51 | -25.11 | -25.01 | -23.61 | -24.11 | -28.21 | -33.91 | -39.81 | -35.11 | -34.01 | -30.81 | -33.21 | -33.71 | |
| SMEs: Price expectations | 18.15 | 13.65 | 9.15 | 11.15 | 18.15 | 31.85 | 21.25 | 10.55 | 5.85 | 5.45 | 5.05 | 3.35 | 2.05 | 3.72 | 2.32 | -1.88 | -4.08 | -0.08 | -2.68 | 2.02 | 0.42 | -0.08 | -4.08 | -1.78 | -1.38 | 2.12 | 1.12 | 3.02 | -1.68 | -8.08 | -11.58 | -6.78 | -2.28 | -3.68 | -5.08 | -8.98 | -8.68 | |
| SMEs: Employment expectations | 1.57 | 0.17 | 0.87 | -1.03 | -0.13 | 0.27 | -0.43 | 3.87 | 0.27 | 0.67 | 2.27 | 0.17 | -0.33 | 1.07 | -0.03 | -0.03 | -2.23 | -3.73 | -2.33 | -4.43 | -2.73 | -3.33 | -4.63 | -1.83 | -1.13 | -2.73 | -3.63 | -5.03 | -6.53 | -6.83 | -7.43 | -9.73 | -8.73 | -7.33 | -7.33 | -6.93 | -8.43 | |
| Large enterprises: Business climate2 | -3.86 | -2.86 | -4.56 | -7.06 | -13.66 | -7.66 | -5.76 | -0.86 | -4.46 | -1.56 | -4.66 | -2.86 | 2.94 | -3.88 | 1.92 | 2.52 | 1.42 | -5.38 | 0.82 | -8.08 | -12.88 | -9.98 | -13.08 | -13.08 | -8.18 | -3.68 | -8.48 | -9.18 | -5.78 | -9.28 | -6.28 | -15.28 | -14.78 | -13.48 | -6.38 | -7.98 | -9.98 | |
| Large enterprises: Business situation | -1.84 | 1.06 | -4.04 | -5.14 | -12.44 | -2.44 | 3.66 | -2.54 | -6.24 | -3.54 | -0.44 | -2.34 | -4.84 | -1.95 | 5.95 | 3.85 | 3.55 | -2.55 | 11.85 | 2.35 | 1.75 | 6.45 | -5.45 | -7.35 | -0.85 | 5.05 | 0.95 | 1.85 | 6.55 | -2.55 | 4.85 | -1.65 | 1.75 | -0.55 | -0.45 | 5.65 | 3.15 | |
| Large enterprises: Business expectations | -6.84 | -7.54 | -6.14 | -9.94 | -15.94 | -13.44 | -15.24 | -0.44 | -3.84 | -0.84 | -9.54 | -4.54 | 9.26 | -6.86 | -2.96 | 0.24 | -1.66 | -9.16 | -10.16 | -18.46 | -26.56 | -25.26 | -21.06 | -19.26 | -15.86 | -12.66 | -17.96 | -19.86 | -17.76 | -16.46 | -17.36 | -28.16 | -29.96 | -25.86 | -12.86 | -21.06 | -22.56 | |
| Large enterprises: Price expectations | 12.18 | 5.08 | 4.48 | 8.28 | 17.08 | 32.48 | 17.68 | 10.08 | 12.08 | 10.18 | 8.68 | 10.58 | 8.18 | 4.74 | 9.64 | 9.74 | 0.84 | 7.24 | 6.74 | -0.56 | 4.04 | -3.86 | -9.76 | -9.66 | 5.74 | 1.44 | 3.14 | 7.94 | 4.54 | -1.36 | -5.06 | -0.86 | -0.76 | 3.94 | 3.44 | 0.44 | -7.46 | |
| Large enterprises: Employment expectations | 0.24 | 1.64 | 3.74 | 9.54 | 8.44 | 4.54 | 5.94 | 6.54 | 8.24 | 9.14 | 11.04 | 5.54 | 9.64 | 5.74 | 11.54 | 8.54 | 4.84 | 4.24 | 7.84 | 4.54 | 2.24 | 6.24 | 7.04 | 11.54 | 10.64 | 12.84 | 9.04 | 0.34 | 0.54 | 4.44 | -5.06 | 5.64 | 5.04 | 9.64 | -6.56 | 1.24 | 4.94 | |
| Retail trade6 | ||||||||||||||||||||||||||||||||||||||
| SMEs: Business climate2 | -15.6 | -18.9 | -19.7 | -27.2 | -29.2 | -28.8 | -23 | -18.4 | -13.9 | -17.8 | -16.1 | -11.1 | -14 | -14.15 | -14.25 | -12.35 | -11.05 | -17.55 | -14.65 | -14.45 | -14.95 | -11.95 | -10.05 | -13.15 | -11.65 | -12.15 | -17.25 | -12.65 | -4.25 | -5.65 | -10.15 | -15.15 | -15.85 | -10.35 | -9.25 | -9.45 | -10.25 | |
| SMEs: Business situation | -16.51 | -18.61 | -20.41 | -25.51 | -23.81 | -23.81 | -19.71 | -21.11 | -16.11 | -19.21 | -16.21 | -10.41 | -13.61 | -14.47 | -14.87 | -9.97 | -8.77 | -15.47 | -11.27 | -7.97 | -9.97 | -6.87 | -6.17 | -10.87 | -9.97 | -10.17 | -17.57 | -8.07 | 4.13 | -1.47 | -4.47 | -8.47 | -8.27 | -5.67 | -4.67 | -8.87 | -6.47 | |
| SMEs: Business expectations | -15.02 | -19.42 | -19.32 | -28.92 | -34.22 | -33.52 | -26.22 | -16.12 | -12.12 | -16.82 | -16.22 | -11.92 | -14.62 | -14.08 | -13.98 | -14.88 | -13.48 | -19.78 | -18.08 | -20.58 | -19.68 | -16.88 | -13.78 | -15.48 | -13.38 | -14.38 | -17.18 | -17.08 | -12.08 | -9.78 | -15.58 | -21.48 | -22.78 | -14.78 | -13.58 | -10.38 | -14.08 | |
| SMEs: Price expectations | 13.32 | 6.82 | 12.72 | 17.42 | 18.32 | 22.52 | 11.92 | 5.42 | 3.12 | 5.52 | 12.72 | 6.02 | 5.82 | 4.17 | 6.97 | 5.47 | 3.17 | 8.67 | 8.07 | 11.17 | 9.37 | 7.07 | 6.57 | 3.87 | 0.57 | 6.07 | 4.47 | 4.17 | 4.07 | 5.17 | 5.47 | 10.57 | 10.47 | 10.47 | 6.27 | 9.67 | 13.77 | |
| SMEs: Employment expectations | -12.36 | -11.96 | -9.96 | -19.06 | -13.96 | -12.56 | -12.36 | -7.66 | -9.16 | -8.26 | -5.86 | -6.76 | -4.36 | -4.11 | -8.01 | -5.01 | -4.91 | -5.71 | -6.31 | -8.01 | -4.21 | -7.31 | -4.81 | -3.81 | -6.41 | -7.41 | -6.31 | -2.81 | -1.61 | -2.41 | -0.91 | -5.01 | -4.21 | -0.61 | -1.91 | -2.31 | -0.51 | |
| Large enterprises: Business climate2 | -19.83 | -17.63 | -20.03 | -22.83 | -32.93 | -29.63 | -26.13 | -21.03 | -16.73 | -20.83 | -18.53 | -12.43 | -12.13 | -16.4 | -22.6 | -17.5 | -14.2 | -18.5 | -21.6 | -17.4 | -21.9 | -15.6 | -19.4 | -17.6 | -24.6 | -20.6 | -19.5 | -19.5 | -12.8 | -9.2 | -8.2 | -26.1 | -19.9 | -15.3 | -16 | -19.5 | -10.2 | |
| Large enterprises: Business situation | -18.19 | -19.19 | -19.19 | -26.19 | -33.09 | -25.19 | -26.09 | -28.59 | -22.59 | -22.69 | -20.59 | -14.59 | -19.79 | -21.06 | -29.76 | -22.76 | -15.16 | -21.16 | -22.56 | -13.46 | -14.86 | -17.46 | -18.96 | -20.96 | -28.66 | -23.26 | -20.96 | -13.16 | -6.36 | -1.86 | -7.96 | -26.06 | -18.96 | -10.46 | -19.56 | -21.66 | -5.16 | |
| Large enterprises: Business expectations | -21.77 | -16.57 | -21.07 | -19.87 | -32.97 | -33.97 | -26.47 | -13.87 | -11.37 | -19.37 | -16.97 | -10.67 | -5.07 | -12.25 | -15.95 | -12.75 | -13.65 | -16.35 | -20.95 | -21.35 | -28.65 | -14.15 | -20.05 | -14.65 | -21.05 | -18.55 | -18.45 | -25.65 | -18.95 | -16.35 | -8.75 | -26.45 | -21.25 | -20.15 | -12.95 | -17.85 | -15.15 | |
| Large enterprises: Price expectations | 10.11 | 4.61 | 10.51 | 24.21 | 9.41 | 27.21 | 7.31 | 12.21 | 11.41 | 1.41 | 9.21 | 10.31 | 3.71 | 0.85 | 10.65 | 3.95 | 5.95 | 8.35 | 11.05 | 10.75 | 11.55 | 10.45 | 9.35 | -4.55 | 4.05 | 8.45 | 7.45 | 1.85 | 1.45 | -2.05 | -1.25 | -2.05 | 2.45 | 3.65 | 0.55 | 0.55 | 15.05 | |
| Large enterprises: Employment expectations | -22.23 | -18.83 | -17.43 | -26.23 | -14.73 | -38.53 | -26.13 | -24.23 | -21.93 | -20.23 | -17.83 | -18.73 | -14.43 | -16.12 | -18.32 | -18.32 | -15.82 | -18.42 | -18.22 | -17.02 | -23.92 | -18.12 | -21.22 | -16.92 | -22.22 | -17.62 | -18.12 | -11.52 | -12.92 | -10.32 | -4.82 | -20.12 | -12.82 | 0.08 | -13.12 | -12.62 | -4.12 | |
| Wholesale trade6 | ||||||||||||||||||||||||||||||||||||||
| SMEs: Business climate2 | -10 | -13.5 | -18.5 | -24.7 | -25.9 | -27.5 | -24.7 | -20.1 | -16.4 | -20.1 | -18.5 | -17.3 | -22.5 | -18.73 | -19.43 | -20.03 | -23.33 | -29.93 | -28.43 | -32.83 | -34.43 | -33.83 | -30.03 | -29.23 | -29.13 | -29.13 | -29.73 | -27.73 | -21.83 | -25.03 | -26.13 | -36.23 | -30.23 | -24.43 | -21.63 | -25.23 | -20.73 | |
| SMEs: Business situation | -16.02 | -18.32 | -22.72 | -28.12 | -26.92 | -28.62 | -28.42 | -28.42 | -24.72 | -29.22 | -25.82 | -26.32 | -28.92 | -26.29 | -27.39 | -29.59 | -32.19 | -37.19 | -36.29 | -37.69 | -39.79 | -41.69 | -37.69 | -35.59 | -35.19 | -32.69 | -34.19 | -30.69 | -22.19 | -28.79 | -25.59 | -31.69 | -25.29 | -20.69 | -18.59 | -22.19 | -16.39 | |
| SMEs: Business expectations | -4.45 | -9.25 | -14.65 | -21.75 | -25.05 | -26.75 | -21.25 | -12.15 | -8.45 | -11.45 | -11.55 | -8.65 | -16.45 | -11.77 | -11.97 | -10.87 | -14.77 | -23.27 | -21.07 | -28.47 | -29.47 | -26.57 | -22.87 | -23.27 | -23.67 | -26.07 | -25.67 | -25.17 | -21.77 | -21.77 | -26.77 | -40.57 | -34.97 | -28.07 | -24.57 | -28.27 | -24.97 | |
| SMEs: Price expectations | 14.81 | 13.91 | 9.71 | 20.41 | 26.91 | 32.01 | 19.21 | -0.79 | 1.71 | -1.29 | -3.49 | -9.59 | -9.49 | -12.74 | -9.64 | -9.64 | -10.74 | -8.74 | -6.54 | -8.04 | -9.04 | -8.14 | -9.64 | -11.24 | -14.74 | -8.34 | -9.64 | -9.74 | -13.54 | -17.04 | -20.14 | -16.74 | -16.14 | -16.94 | -16.34 | -16.44 | -14.74 | |
| SMEs: Employment expectations | -4.16 | -2.86 | -9.36 | -8.56 | -7.76 | -7.56 | -9.96 | -8.16 | -9.56 | -10.96 | -11.26 | -9.46 | -9.06 | -6.87 | -6.57 | -4.87 | -8.57 | -9.57 | -8.97 | -11.37 | -11.57 | -12.97 | -12.47 | -15.67 | -12.37 | -11.57 | -11.77 | -10.97 | -8.37 | -9.37 | -8.77 | -9.27 | -7.47 | -5.17 | -4.67 | -5.17 | -4.77 | |
| Large enterprises: Business climate2 | -10.07 | -16.17 | -22.87 | -26.67 | -27.57 | -27.77 | -26.07 | -22.87 | -22.07 | -21.87 | -20.77 | -17.17 | -20.07 | -18.41 | -21.31 | -20.21 | -23.41 | -26.81 | -27.51 | -29.21 | -31.51 | -32.61 | -29.61 | -30.81 | -31.91 | -29.91 | -31.81 | -32.11 | -20.11 | -34.11 | -35.11 | -36.81 | -34.41 | -32.41 | -27.01 | -32.61 | -29.21 | |
| Large enterprises: Business situation | -16.88 | -18.98 | -27.68 | -30.58 | -29.88 | -33.98 | -33.08 | -33.98 | -33.68 | -36.18 | -36.78 | -33.28 | -34.58 | -30.45 | -33.85 | -30.35 | -37.45 | -35.25 | -41.45 | -37.35 | -40.75 | -41.45 | -37.15 | -40.25 | -39.75 | -39.55 | -40.05 | -41.85 | -29.75 | -44.65 | -35.25 | -37.45 | -31.35 | -28.75 | -21.45 | -24.45 | -23.05 | |
| Large enterprises: Business expectations | -4.15 | -14.05 | -18.75 | -23.55 | -25.85 | -22.35 | -19.95 | -12.45 | -11.25 | -8.25 | -5.25 | -1.65 | -6.05 | -6.97 | -9.57 | -10.87 | -10.07 | -19.27 | -14.17 | -21.77 | -23.07 | -24.67 | -22.87 | -22.17 | -24.97 | -21.07 | -24.37 | -23.17 | -11.27 | -24.37 | -35.37 | -36.57 | -37.67 | -36.17 | -32.37 | -40.17 | -35.07 | |
| Large enterprises: Price expectations | 20.15 | 11.35 | 10.45 | 15.05 | 36.95 | 37.35 | 20.85 | 1.55 | -3.55 | 3.95 | 0.95 | -14.15 | -7.55 | -8.76 | -8.26 | -12.06 | -13.46 | -9.76 | -9.96 | -9.86 | -11.46 | -12.16 | -11.86 | -10.56 | -16.36 | -10.96 | -8.86 | -8.06 | -15.66 | -20.06 | -24.66 | -20.76 | -12.16 | -17.66 | -21.66 | -23.66 | -21.66 | |
| Large enterprises: Employment expectations | -5.77 | -11.57 | -16.07 | -16.87 | -14.37 | -18.67 | -19.97 | -16.87 | -18.37 | -18.77 | -13.97 | -13.17 | -14.87 | -12.6 | -16.1 | -15.1 | -17.5 | -12.4 | -14.9 | -22.29 | -17.29 | -19 | -20.9 | -20.29 | -20.6 | -20.9 | -16.4 | -17.5 | -10.3 | -16.4 | -13.7 | -16.29 | -11.9 | -10.6 | -9.9 | -10.6 | -8 | |
| Services6 |
Latest reading
The series on this page is monthly and runs from Jan 2005 to Sep 2026. Source: ifo Institute, KfW Research.
About this data
Germany ifo business climate index detailing current business situations and future expectations. Published monthly by the ifo Institute, this survey covers manufacturing, construction, wholesaling, retailing and the digital economy. The data tracks headline sentiment, price and export expectations, and the KfW-ifo SME Barometer split by enterprise size since 1991. Readings are presented as balance points, indices based to 2015=100, and seasonally adjusted figures.
Frequently asked questions
- What is the latest figure for Germany ifo business climate index?
- The latest reading is 89.9, for Sep 2026. That is +1.2% from Aug 2026 and +2.5% from a year earlier.
- Is Germany ifo business climate index at a high or a low right now?
- The reading of 89.9 is the highest since May 2023.
- How far back does the Germany ifo business climate index data go?
- The series on this page is monthly and runs from Jan 2005 to Sep 2026. Source: ifo Institute, KfW Research. Every series in the table can be charted over its full history and downloaded as CSV or Excel.
- What is the Germany ifo business climate index?
- The Germany ifo business climate index is a highly watched leading indicator for the German economy. It measures corporate sentiment by surveying firms on their current business situation and their expectations for the coming months.
- Which sectors does the German ifo business climate survey cover?
- The main German ifo business climate survey covers industry and trade, specifically manufacturing, construction, wholesaling and retailing. A separate Bitkom-ifo digital index applies the identical method to the ICT sector.
- Does the ifo business climate separate small and large businesses?
- Yes, the KfW-ifo SME Barometer splits the survey sample by enterprise size. It provides distinct business climate, current situation and employment expectations balances for both small and medium-sized enterprises (SMEs) and large enterprises.