The Ifo Business Climate indicator for Germany increased to an eight-month high of 91.1 in February of 2023, from a downwardly revised 90.1 in January, compared to forecasts of 91.2. Expectations for the coming months were significantly less pessimistic (88.5 vs 86.4), while firms' assessments of their current situation worsened a bit (93.9 vs 94.1). Meanwhile, 45.4% of companies complained about supply chain bottlenecks, less than 48.4% in January and the share of those who want to increase prices has fallen. Across sectors, the business mood in tourism and hospitality has improved markedly while export expectations industry were slightly down. On the economic front, the German economy will not get around a recession, but it will be a mild one, Ifo economist Klaus Wohlrabe said. source: Ifo Institute

Business Confidence in Germany averaged 97.51 points from 1991 until 2023, 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 2023.

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 105.00 points in 2024 and 100.00 points in 2025, according to our econometric models.

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Germany Ifo Business Climate Index



Calendar GMT Actual Previous Consensus TEForecast
2023-01-25 09:00 AM Jan 90.2 88.6 90.2 89.9
2023-02-22 09:00 AM Feb 91.1 90.1 91.2 91.6
2023-03-27 08:00 AM Mar 91.1 91 90.7


Related Last Previous Unit Reference
Business Confidence 91.10 90.10 points Feb 2023
Capacity Utilization 84.20 84.60 percent Mar 2023
Ifo Expectations 88.50 86.40 points Feb 2023
Ifo Current Conditions 93.90 94.10 points Feb 2023

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).
Actual Previous Highest Lowest Dates Unit Frequency
91.10 90.10 109.80 75.60 1991 - 2023 points Monthly
2015=100, SA

News Stream
Germany Business Morale Continues to Improve
The Ifo Business Climate indicator for Germany increased to an eight-month high of 91.1 in February of 2023, from a downwardly revised 90.1 in January, compared to forecasts of 91.2. Expectations for the coming months were significantly less pessimistic (88.5 vs 86.4), while firms' assessments of their current situation worsened a bit (93.9 vs 94.1). Meanwhile, 45.4% of companies complained about supply chain bottlenecks, less than 48.4% in January and the share of those who want to increase prices has fallen. Across sectors, the business mood in tourism and hospitality has improved markedly while export expectations industry were slightly down. On the economic front, the German economy will not get around a recession, but it will be a mild one, Ifo economist Klaus Wohlrabe said.
2023-02-22
German Business Climate Improves for 4th Month
The Ifo Business Climate indicator for Germany rose by 1.6 points from a month earlier to 90.2 in January 2023, the fourth consecutive month of increase and the highest level since June last year. Europe's largest economy started the year with cautious optimism amid easing inflation and an improved outlook, as strain on supply chains eased. Expectations for the coming months were significantly less pessimistic (86.4 vs 83.2 in December), while firms' assessments of their current situation have become slightly more negative (94.1 vs 94.4). By sector, sentiment improved among manufacturers (-0.7 vs -5.7), service providers (0.2 vs -1.2), traders (-15.4 vs -20.0), and constructors (-21.6 vs -21.9). The Ifo is expecting a slight contraction during the first quarter, mainly due to a decline in consumption, but a recession will probably be avoided.
2023-01-25
German Business Climate Improves for 3rd Month
The Ifo Business Climate indicator for Germany rose for a third consecutive month to 88.6 in December 2022, the highest level since August and above market expectations of 87.4. Sentiment improved despite high inflation and the ongoing energy crisis, as expectations for the coming months were significantly less pessimistic (83.2 vs 80.2 in November) and as the companies' assessments of their current situation have also became less negative (94.4 vs 93.2).
2022-12-19