The Ifo Business Climate indicator for Germany fell to 88.6 in July of 2022, the lowest in over two years and below market expectations of 90.2 as higher energy prices and the threat of a gas shortage are weighing on the economy that is on the cusp of a recession. Germany's gas network regulator warned that if gas through the Nord Stream 1 pipeline continued to be pumped at only 40%, the country would need to take additional measures to reach the 90% of storage capacity set as a target to avert winter rationing. The index of the current situation went down to 97.7 in July from 99.4 the prior month, while the gauge assessing companies' expectations decreased to 80.3 from 85.8. Sentiment deteriorated across all sectors: manufacturing (-7.1 vs 0 in June); services (0.9 vs 10.9); trade (-21.6 vs -14.7); and construction (-17 vs -9.5). source: Ifo Institute
Business Confidence in Germany averaged 97.69 points from 1991 until 2022, reaching an all time high of 109.80 points in January of 1991 and a record low of 75.50 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 August of 2022.
Business Confidence in Germany is expected to be 90.70 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany Ifo Business Climate Index is projected to trend around 102.00 points in 2023 and 104.00 points in 2024, according to our econometric models.