The Ifo Business Climate indicator for Germany rose to 92.4 in February 2021, up from an upwardly revised 90.3 in the previous month and above market expectations of 90.5. Companies became less pessimistic regarding developments over the coming months (94.2 vs 91.5 in January), while their assessments of the current situation were also a little better (90.6 vs 89.2). Sentiment improved among manufacturers (16.1 vs 9.1 in January), service providers (-2.2 vs -4.4), traders (-14.6 vs -17.2) and constructors (-3.6 vs -4.9). source: Ifo Institute

Business Confidence in Germany averaged 97.76 points from 1991 until 2021, reaching an all time high of 109.80 points in January of 1991 and a record low of 75.60 points in April of 2020. This page provides the latest reported value for - Germany Business Confidence - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany Ifo Business Climate Index - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.

Business Confidence in Germany is expected to be 94.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Germany to stand at 100.00 in 12 months time. In the long-term, the Germany Ifo Business Climate Index is projected to trend around 104.00 points in 2022, according to our econometric models.

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Germany Ifo Business Climate Index

Actual Previous Highest Lowest Dates Unit Frequency
92.40 90.30 109.80 75.60 1991 - 2021 points Monthly
2015=100, SA


Calendar GMT Actual Previous Consensus TEForecast
2020-11-24 09:00 AM Nov 90.7 92.5 90.1 90.1
2020-12-18 09:00 AM Dec 92.1 90.9 90 90
2021-01-25 09:00 AM Jan 90.1 92.2 91.8 91.6
2021-02-22 09:00 AM Feb 92.4 90.3 90.5 91
2021-03-26 09:00 AM Mar 92.4
2021-04-26 08:00 AM Apr
2021-05-25 08:00 AM May
2021-06-24 08:00 AM Jun


News Stream
German Business Climate Improves in February
The Ifo Business Climate indicator for Germany rose to 92.4 in February 2021, up from an upwardly revised 90.3 in the previous month and above market expectations of 90.5. Companies became less pessimistic regarding developments over the coming months (94.2 vs 91.5 in January), while their assessments of the current situation were also a little better (90.6 vs 89.2). Sentiment improved among manufacturers (16.1 vs 9.1 in January), service providers (-2.2 vs -4.4), traders (-14.6 vs -17.2) and constructors (-3.6 vs -4.9).
2021-02-22
German Business Climate at 6-Month Low: Ifo
The Ifo Business Climate indicator for Germany fell to 90.1 in January of 2021 from an upwardly revised 92.2 in the previous month, below market forecasts of 91.8. It is the lowest reading in seven months as companies became less optimistic about current conditions (89.2 vs 91.3) and expectations (91.1 vs 93). Many service providers were affected by lockdown, including transport and logistics and retail has collapsed while industry continues to be well positioned, Ifo economist Wohlrabe said. Economic uncertainty has grown and the German GDP is expected to stagnate in Q1, he added.
2021-01-25
Germany Business Climate Tops Estimates: Ifo
The Ifo Business Climate indicator for Germany went up to 92.1 in December of 2020 from an upwardly revised 90.9 in the previous month, beating market forecasts of 90. Companies became more optimistic about current conditions (91.3 vs 90) and expectations (92.8 vs 91.8). "Companies were satisfied with their business situation. They are looking at the first half of the year with less skepticism. But the lockdown is hitting some branches hard. The German economy is on the whole showing its resilience", Ifo President Clemens Fuest said. Still, the reading remains below pre-pandemic levels.
2020-12-18
German Business Climate Drops Less than Expected
The Ifo Business Climate indicator for Germany dropped to 90.7 in November 2020 from a downwardly revised 92.5 in the previous month, still remaining above market expectations of 90.1. Companies became more pessimistic regarding developments over the coming months following the imposition of tougher restriction measures to curb the spread of the COVID-19 pandemic, while their assessments of the current situation were also a little worse. Sentiment deteriorated among service providers (-3.1 vs 3.8 in October), traders (-4.0 vs -0.2) and constructors (-0.1 vs 0.3). Meanwhile, confidence among manufacturers improved slightly (3.5 vs 1.5).
2020-11-24

Germany Ifo Business Climate Index
In Germany, the IFO Business Climate Index measures entrepreneurs’ sentiment about current business situation and their expectations for the next 6 months. The survey is made by phone and covers 9,000 firms in manufacturing, the service sector, trade and construction. The Business Climate Balance is constructed as the difference between the percentage share of executives that are optimistic and the share that are pessimistic. This balance can take values between -100 (all responding firms assess their situation as poor and expect business to deteriorate) and +100 (all responding firms assessed their situation as good and expect an improvement in their business). For the calculation of the IFO Business Climate Index, the Balance is normalized to the average of a base year (currently 2015).