The Ifo Business Climate Index in Germany fell by 1.8 points from a month earlier to 95.7 in July 2019, the lowest level since April 2013 and below market expectations of 97.1. The business expectations sub-index slumped to 92.2 from 94.0 in June; while the gauge of current conditions dropped to 99.4 from 101.1 in the previous month. Across sectors, confidence deteriorated among manufacturers (-4.3 vs 1.3 in June), service providers (17.7 vs 20.3), wholesalers (-0.3 vs 6.8), and retailers (4.7 vs 8.9), while sentiment among constructors improved slightly (23.3 vs 23.0). Business Confidence in Germany averaged 98.13 Index Points from 1991 until 2019, reaching an all time high of 109.80 Index Points in January of 1991 and a record low of 79.90 Index Points in March of 2009.

Business Confidence in Germany is expected to be 94.40 Index 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 102.00 in 12 months time. In the long-term, the Germany Ifo Business Climate Index is projected to trend around 102.00 Index Points in 2020, according to our econometric models.

Germany Ifo Business Climate Index
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Calendar GMT Actual Previous Consensus TEForecast
2019-04-24 08:00 AM Ifo Business Climate Apr 99.2 99.7 99.9 99.5
2019-05-23 08:00 AM Ifo Business Climate May 97.9 99.2 99.1 99.4
2019-06-24 08:00 AM Ifo Business Climate Jun 97.4 97.9 97.2 97
2019-07-25 08:00 AM Ifo Business Climate Jul 95.7 97.5 97.1 96.9
2019-08-26 08:00 AM Ifo Business Climate Aug 95.7 95.2 95.1
2019-09-24 08:00 AM Ifo Business Climate Sep 94.4
2019-10-25 08:00 AM Ifo Business Climate Oct 98.5


Germany Business Last Previous Highest Lowest Unit
Business Confidence 95.70 97.50 109.80 79.90 Index Points [+]
Services PMI 54.40 54.50 60.30 41.30 Index Points [+]
Manufacturing PMI 43.60 43.20 63.30 32.00 [+]
Composite Pmi 51.40 50.90 59.00 50.20 Index Points [+]
Industrial Production -5.20 -4.40 15.30 -21.80 percent [+]
Industrial Production Mom -1.50 0.10 4.00 -6.90 percent [+]
Manufacturing Production -6.10 -4.90 15.50 -24.10 percent [+]
Capacity Utilization 83.90 85.40 88.70 70.20 percent [+]
New Orders 102.90 100.20 113.50 8.80 Index Points [+]
Factory Orders 2.50 -2.00 27.10 -15.70 percent [+]
Changes in Inventories -3.37 3.08 10.85 -11.30 EUR Billion [+]
Bankruptcies 1670.00 1689.00 3755.00 416.00 Companies [+]
Corporate Profits 192.10 193.12 202.12 91.05 EUR Billion [+]
Zew Economic Sentiment Index -44.10 -24.50 89.60 -63.90 [+]
Car Production 359400.00 374700.00 583399.00 265542.00 Units [+]
Car Registrations 332788.00 325231.00 552865.00 43460.00 [+]
Internet Speed 15298.72 14588.37 15298.72 3207.62 KBps [+]
IP Addresses 38794861.00 38344874.00 38794861.00 18134106.00 IP [+]
Mining Production -19.30 -15.90 46.60 -30.40 percent [+]
Steel Production 3405.48 3470.00 4744.00 907.00 Thousand Tonnes [+]
Competitiveness Index 82.84 82.64 82.84 5.37 Points [+]
Competitiveness Rank 3.00 3.00 7.00 3.00 [+]
Corruption Index 80.00 81.00 82.70 73.00 Points [+]
Corruption Rank 11.00 12.00 20.00 10.00 [+]
Ease of Doing Business 24.00 20.00 27.00 14.00 [+]


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 7 000 firms in manufacturing, construction, wholesaling and retailing industry. 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 2005). 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 - actual data, historical chart and calendar of releases - was last updated on August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
95.70 97.50 109.80 79.90 1991 - 2019 Index Points Monthly
2015=100, SA




Country Last Previous
Australia 4.00 Jul/19
Brazil 59.40 Aug/19
Canada 54.20 Jul/19
China 49.70 Jul/19
Euro Area -0.12 Jul/19
France 101.00 Jul/19
Germany 95.70 Jul/19
India 112.80 Sep/19
Indonesia 108.81 Jun/19
Italy 100.10 Jul/19
Japan 7.00 Jun/19
Mexico 49.50 Jul/19
Netherlands 3.90 Jul/19
Russia -1.00 Jul/19
Saudi Arabia 3.00 Jun/16
Singapore -11.00 Jun/19
South Africa 28.00 Jun/19
South Korea 73.00 Jul/19
Spain -2.80 Jul/19
Switzerland 97.10 Jul/19
Turkey 98.30 Jul/19
United Kingdom -32.00 Sep/19
United States 51.20 Jul/19


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