The Ifo Business Climate indicator for Germany rose by 1.8 points from the previous month to 86.3 in November 2022, the highest in three months and above market consensus of 85.0. Expectations for the coming months were significantly less pessimistic and were at three-month highs (80.0 vs 75.9 in October), with export expectations in industry rising just into positive territory. Also, more than half of the companies were concerned about supply bottlenecks, a number that was below October's level, while the pressure to increase prices fell with only 46.8% of the companies wanting to raise prices in the coming three months. On the other hand, the companies' assessments of their current situation deteriorated to the lowest level since February 2021 (93.1 vs 94.2). source: Ifo Institute

Business Confidence in Germany averaged 97.57 points from 1991 until 2022, 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 November of 2022.

Business Confidence in Germany is expected to be 76.60 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 83.00 points in 2023 and 95.00 points in 2024, according to our econometric models.

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Germany Ifo Business Climate Index



Calendar GMT Actual Previous Consensus TEForecast
2022-10-25 08:00 AM Oct 84.3 84.4 83.3 81.5
2022-11-24 09:00 AM Nov 86.3 84.5 85 83.7
2022-12-19 09:00 AM Dec 86.3


Related Last Previous Unit Reference
Business Confidence 86.30 84.50 points Nov 2022
Capacity Utilization 84.60 85.40 percent Dec 2022
Ifo Expectations 80.00 75.90 points Nov 2022
Ifo Current Conditions 93.10 94.20 points Nov 2022

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
86.30 84.50 109.80 75.60 1991 - 2022 points Monthly
2015=100, SA

News Stream
German Business Morale Stronger Than Expected
The Ifo Business Climate indicator for Germany rose by 1.8 points from the previous month to 86.3 in November 2022, the highest in three months and above market consensus of 85.0. Expectations for the coming months were significantly less pessimistic and were at three-month highs (80.0 vs 75.9 in October), with export expectations in industry rising just into positive territory. Also, more than half of the companies were concerned about supply bottlenecks, a number that was below October's level, while the pressure to increase prices fell with only 46.8% of the companies wanting to raise prices in the coming three months. On the other hand, the companies' assessments of their current situation deteriorated to the lowest level since February 2021 (93.1 vs 94.2).
2022-11-24
German Business Morale Edges Lower: Ifo
The Ifo Business Climate indicator for Germany edged lower to 84.3 in October of 2022, the weakest since May of 2020, compared to an upwardly revised 84.4 in September. Still, figures beat market forecasts of 83.3. Winter recession is coming and Europe's biggest economy will contract by 0.6% in the fourth quarter, the Ifo forecasted. The institute also note that one in two companies is still expecting to increase prices in the coming three months. At the same time, 63.8% of businesses were complaining about supply bottlenecks, below 65.8% in September while export expectations from the industry improved slightly. Meanwhile, the gauge for the current situation fell to 94.1 from 94.5 while expectations for the coming months were slightly higher (75.6 vs 75.3).
2022-10-25
German Business Morale Tumbles to Over 2-Year Low
The Ifo Business Climate indicator for Germany dropped to 84.3 in September 2022, the lowest level since the aftermath of the COVID-19 pandemic shock in May 2020 and well below market consensus of 87.0. Expectations for the coming months were significantly more pessimistic (75.2 vs 80.5 in August), led by record-low expectations in the retail sector, as well as companies' assessments of their current situation (94.5 vs 97.5). The mood has soured across all sectors, with energy intensive industries particularly pessimistic about the coming months and nearly two thirds of companies concerned about supply bottlenecks. By sector, sentiment worsened among manufacturers (-14.2 vs -6.8), service providers (-8.9 vs 1.4), traders (-32.3 vs -25.8), and constructors (-21.6 vs -14.8).
2022-09-26