The Ifo Business Climate indicator for Germany unexpectedly rose to a 3-month high of 93 in May of 2022 from an upwardly revised 91.9 in April, above market expectations of 91.4. Both current conditions (99.5 vs 97.3 in April) and expectations (86.9 vs 86.8) improved. There are no signs of a recession at the moment in Germany, Europe's largest economy, though demand for industrial products has waned significantly and supply issues persist in industry and retail, according to Ifo economists. source: Ifo Institute

Business Confidence in Germany averaged 97.73 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 May of 2022.

Business Confidence in Germany is expected to be 92.50 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 102.00 points in 2023 and 104.00 points in 2024, according to our econometric models.

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Germany Ifo Business Climate Index



Calendar GMT Actual Previous Consensus TEForecast
2022-04-25 08:00 AM Apr 91.8 90.8 89.1 88.2
2022-05-23 08:00 AM May 93 91.9 91.4 92.1
2022-06-24 08:00 AM Jun 93 92.5


Related Last Previous Unit Reference
Business Confidence 93.00 91.80 points May 2022
Capacity Utilization 85.50 85.60 percent Jun 2022
Ifo Expectations 86.90 86.80 points May 2022
Ifo Current Conditions 99.50 97.30 points May 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
93.00 91.80 109.80 75.60 1991 - 2022 points Monthly
2015=100, SA

News Stream
Germany Business Climate at 3-Month High
The Ifo Business Climate indicator for Germany unexpectedly rose to a 3-month high of 93 in May of 2022 from an upwardly revised 91.9 in April, above market expectations of 91.4. Both current conditions (99.5 vs 97.3 in April) and expectations (86.9 vs 86.8) improved. There are no signs of a recession at the moment in Germany, Europe's largest economy, though demand for industrial products has waned significantly and supply issues persist in industry and retail, according to Ifo economists.
2022-05-23
German Business Morale Unexpectedly Rises in April
The Ifo Business Climate indicator for Germany rose to 91.8 in April of 2022 from March’s 14-month low of 90.8, beating market expectations of 89.1 as companies were less pessimistic after the initial shock of the war in Ukraine. Both current conditions (97.2 vs 97.1) and expectations (86.7 vs 84.9) improved. Supply chain problems remain a major problem for industry, with 75% of companies reporting problems, and three out of four retailers want to raise prices. Germany's economy appears resilient after the first shock following the war in Ukraine, according to Ifo economists.
2022-04-25
German Business Climate Sinks to 14-Month Low
The Ifo Business Climate indicator for Germany fell to a 14-month low of 90.8 in March of 2022 from 98.9 in February, much lower than market forecasts of 94.2. Both current conditions (97 vs 98.6) and expectations (85.1 vs 98.4) fell sharply as the war in Ukraine weighed. Supply chains issues worsened, with 80.2% of companies facing it, compared to 74.6% in February and price expectations have risen, with two-thirds of the companies willing to increase prices. The German economy faces uncertain times although a recession in Q1 as a result of the war in Ukraine is not expected, according to Ifo economists.
2022-03-25