Germany DIHK business situation, capital goods
Germany DIHK business situation, capital goods stood at -3 in May 2026, according to German Chamber of Commerce and Industry (DIHK). It is one of the indicators in the DIHK Business Survey table (Value · Monthly), with a complete series running from Sep 2003 to May 2026. The complete series with an interactive chart, free to download.
This indicator in the DIHK Business Survey table
| Indicator | 05-2026 | 01-2026 | 09-2025 | 05-2025 | 01-2025 | 09-2024 | 05-2024 | 01-2024 | 09-2023 | 05-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All industries | -3 | 1 | 0 | 0 | 1 | 1 | 5 | 7 | 9 | 19 | |
| Manufacturing (excluding construction) | -7 | -10 | -15 | -11 | -14 | -16 | -5 | -1 | 0 | 19 | |
| Capital goods producers | -3 | -6 | -11 | -6 | -11 | -11 | 2 | 13 | 13 | 35 |
Understanding germany DIHK business situation, capital goods
Tracks the prevailing business sentiment among manufacturers responsible for building machinery, factory equipment, and heavy vehicles. The survey isolates these firms from consumer-facing and component-supplying counterparts to highlight the state of business-to-business investment demand. By asking managers to rate their immediate operational environment, the balance effectively measures the willingness of other corporations to commit to long-term asset purchases. The final figure is derived by netting out the pessimistic evaluations from the optimistic ones across this specific industrial branch.
Evaluating the short-term direction of this capital-focused gauge provides insight into corporate capital expenditure cycles. Month-on-month variations are heavily scrutinized because machinery orders tend to be lumpy and cyclical, reacting violently to changes in borrowing costs and global trade conditions. Unlike consumer goods, where demand is relatively smooth, capital goods sentiment can exhibit sudden shifts. Year-on-year comparisons are generally less useful than tracking immediate sequential momentum, given the rapid adjustments in corporate investment plans. Analysts frequently cross-reference this balance with external order book data to verify whether strong sentiment stems from new contracts or merely the execution of existing backlogs.
Frequently asked questions
- What exactly falls under the capital goods classification?
- This category covers items purchased by businesses to produce other goods or services, such as industrial machinery, commercial vehicles, and factory robotics.
- Why might capital goods sentiment lag behind intermediate goods?
- Capital investments require long-term planning and financing, meaning orders for heavy machinery usually recover later in an economic cycle than orders for basic components.
- How do interest rates interact with this specific balance?
- Since capital equipment is often financed through borrowing, the sentiment in this sector is highly sensitive to prevailing credit conditions and lending standards.