The Ifo Business Climate indicator for Germany dropped to 100.8 in July 2021, from the previous month's two-and-a-half-year high of 101.7 and below market expectations of 102.1, as supply bottlenecks and concerns over newly rising infection numbers weighed on the German economy. Expectations for the coming months were significantly less optimistic (101.2 vs 103.7 in June), while companies evaluated their current business situations as somewhat better (100.4 vs 99.7). In the manufacturing sector, the index declined from an over three-year high, due to a scarcity of intermediate products and complaints of a lack of skilled workers. Sentiment among service providers and traders also deteriorated, with the tourism and consumer sector voicing concerns about a fourth coronavirus wave. Meanwhile, confidence among constructors improved in July. source: Ifo Institute

Business Confidence in Germany averaged 97.78 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 July of 2021.

Business Confidence in Germany is expected to be 102.00 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 106.00 points in 2022 and 102.00 points in 2023, according to our econometric models.

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Germany Ifo Business Climate Index

Actual Previous Highest Lowest Dates Unit Frequency
100.80 101.70 109.80 75.60 1991 - 2021 points Monthly
2015=100, SA


Calendar GMT Actual Previous Consensus TEForecast
2021-04-26 08:00 AM Apr 96.8 96.6 97.8 97.5
2021-05-25 08:00 AM May 99.2 96.6 98.2 98.5
2021-06-24 08:00 AM Jun 101.8 99.2 100.6 100.1
2021-07-26 08:00 AM Jul 100.8 101.7 102.1 102.5
2021-08-25 08:00 AM Aug 100.8
2021-09-24 08:00 AM Sep
2021-10-25 09:00 AM Oct
2021-11-24 09:00 AM Nov


News Stream
German Business Climate Falls Unexpectedly
The Ifo Business Climate indicator for Germany dropped to 100.8 in July 2021, from the previous month's two-and-a-half-year high of 101.7 and below market expectations of 102.1, as supply bottlenecks and concerns over newly rising infection numbers weighed on the German economy. Expectations for the coming months were significantly less optimistic (101.2 vs 103.7 in June), while companies evaluated their current business situations as somewhat better (100.4 vs 99.7). In the manufacturing sector, the index declined from an over three-year high, due to a scarcity of intermediate products and complaints of a lack of skilled workers. Sentiment among service providers and traders also deteriorated, with the tourism and consumer sector voicing concerns about a fourth coronavirus wave. Meanwhile, confidence among constructors improved in July.
2021-07-26
German Business Climate Hits 2-1/2-Year High
The Ifo Business Climate indicator for Germany rose by 2.6 percent from a month earlier to 101.8 in June 2021, the highest level since November 2018 and comfortably above market expectations of 100.6, as Europe's largest economy picks up speed following the relaxation of COVID restrictions. Companies assessed their current business situation as much better (99.6 vs 95.7 in May), while optimism regarding the second half of the year also grew (104.0 vs 102.9). In the service sector, the index climbed to 22.4, its highest value since May 2019, as the indicators for the current situation and for expectations both rose sharply; while in the trade sector, it jumped to 17.8, the highest since February 2018, due to a marked improvement in current business. Also, sentiment among manufacturers improved to an over three-year high, and that among constructors was slightly up as assessments of the current situation were almost unchanged and expectations remained pessimistic.
2021-06-24
German Business Climate Hits 2-Year High
The Ifo Business Climate indicator for Germany rose to 99.2 in May 2021, from the previous month's revised figure of 96.6 and above market expectations of 98.2. Business morale was at the highest level since May 2019, as companies were more satisfied with their current business situation (95.7 vs 94.2 in April), and were also more optimistic regarding the coming months (102.9 vs 99.2). In the service sector, the index climbed to 13.7, its highest value since February 2020 on the back of much more optimistic expectations; while in the trade sector, it jumped to 8.4, the highest since April 2019, as businesses were more satisfied with their current situation. Sentiment improved also among manufacturers (25.7 vs 25.1 in April) and constructors (2.8 vs 0.7).
2021-05-25
German Business Morale Rises Less Than Expected
The Ifo Business Climate indicator for Germany rose to 96.8 in April 2021, little-changed from the previous month's 96.6 and below market expectations of 97.8. Still, the latest reading was the highest since June 2019 and signaled an improvement in business morale, as companies raised their assessments of the current business situation once again (94.1 vs 93.1 in March). On the other hand, they were no longer quite so optimistic about the coming six months (99.5 vs 100.3), as both the third wave of infections and bottlenecks in intermediate products hit economic recovery. Sentiment improved among manufacturers (25.3 vs 24.0) and traders (-0.5 vs -1.4), but deteriorated among service providers (3.5 vs 6.6) and constructors (0.4 vs 2.4).
2021-04-26

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).