The Ifo Business Climate indicator for Germany rose by 0.9 points from the previous month to 93.4 in September 2020, the highest level since February but below market expectations of 93.8. Companies once again assessed their current situation as better than in the previous month (89.2 vs 87.9 in August), while they also expect their business to recover further in coming months (97.7 vs 97.2) as the economy appeared to stabilize despite rising COVID-19 infection numbers. Sentiment improved among manufacturers (-0.2 vs -5.6), traders (0.3 vs -4.8) and constructors (3.3 vs 0.0), while confidence among service providers deteriorated (6.9 vs 7.7).

Business Confidence in Germany averaged 97.84 points from 1991 until 2020, reaching an all time high of 109.80 points in January of 1991 and a record low of 74.60 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 October of 2020. source: Ifo Institute

Business Confidence in Germany is expected to be 93.00 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 95.00 in 12 months time. In the long-term, the Germany Ifo Business Climate Index is projected to trend around 100.00 points in 2021 and 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
93.40 92.50 109.80 74.60 1991 - 2020 points Monthly
2015=100, SA


Calendar GMT Actual Previous Consensus TEForecast
2020-06-24 08:00 AM Jun 86.2 79.7 85 85.1
2020-07-27 08:00 AM Jul 90.5 86.3 89.3 88.5
2020-08-25 08:00 AM Aug 92.6 90.4 92.2 92.5
2020-09-24 08:00 AM Sep 93.4 92.5 93.8 93
2020-10-26 09:00 AM Oct 93.4 92.7 91.1
2020-11-24 09:00 AM Nov
2020-12-18 09:00 AM Dec 90
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
German Business Climate Highest in 7 Months
The Ifo Business Climate indicator for Germany rose by 0.9 points from the previous month to 93.4 in September 2020, the highest level since February but below market expectations of 93.8. Companies once again assessed their current situation as better than in the previous month (89.2 vs 87.9 in August), while they also expect their business to recover further in coming months (97.7 vs 97.2) as the economy appeared to stabilize despite rising COVID-19 infection numbers. Sentiment improved among manufacturers (-0.2 vs -5.6), traders (0.3 vs -4.8) and constructors (3.3 vs 0.0), while confidence among service providers deteriorated (6.9 vs 7.7).
2020-09-24
German Business Climate Improves to 6-Month High
The Ifo Business Climate indicator for Germany rose by 2.2 points from the previous month to 92.6 in August 2020, the highest level since February and slightly above market expectations of 92.2, as firms assessed their current situation as slightly better (87.9 vs 84.5 in July). In addition, the gauge measuring companies' expectations for the coming months continued to improve (97.5 vs 96.7) following the easing of the coronavirus-induced restrictions. Sentiment improved among manufacturers (-5.4 vs -12.1), service providers (7.8 vs 2.1), traders (-4.8 vs -5.1) and constructors (0.0 vs -2.5).
2020-08-25
German Business Climate Hits 5-Month High in July
The Ifo Business Climate indicator for Germany rose by 4.2 points from the previous month to a five-month high of 90.5 in July 2020, recovering further from an all-time low reached in April and beating market expectations 89.3. The gauge measuring companies' expectations for the coming months improved considerably (97.0 vs 91.6 in June) following the easing of the coronavirus-induced lockdown. In addition, firms assessed their current situation as slightly better (84.5 vs 81.3). Sentiment improved among manufacturers (-12.0 vs -22.7), service providers (2.0 vs -6.0), traders (-5.2 vs -14.2) and constructors (-2.4 vs -7.7).
2020-07-27
German Business Climate Rises the Most on Record
The Ifo Business Climate indicator for Germany rose by 6.5 points from the previous month to a four-month high of 86.2 in June 2020, recovering further from an all-time low reached in April and beating market expectations 85.0. It was also the largest monthly increase in the index since records started after German reunification in 1990. The gauge measuring companies' expectations for the coming months improved considerably (91.4 vs 80.5 in May) following a gradual easing of the coronavirus-related lockdown measures. In addition, firms assessed their current situation as slightly better (81.3 vs 78.9).
2020-06-24

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).