The Ifo Business Climate indicator for Germany dropped to 90.7 in November 2020 from a downwardly revised 92.5 in the previous month, still remaining above market expectations of 90.1. Companies became more pessimistic regarding developments over the coming months following the imposition of tougher restriction measures to curb the spread of the COVID-19 pandemic, while their assessments of the current situation were also a little worse. Sentiment deteriorated among service providers (-3.1 vs 3.8 in October), traders (-4.0 vs -0.2) and constructors (-0.1 vs 0.3). Meanwhile, confidence among manufacturers improved slightly (3.5 vs 1.5). source: Ifo Institute

Business Confidence in Germany averaged 97.81 points from 1991 until 2020, reaching an all time high of 109.80 points in January of 1991 and a record low of 75.40 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 2020.

Business Confidence in Germany is expected to be 90.00 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 97.00 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
90.70 92.50 109.80 75.40 1991 - 2020 points Monthly
2015=100, SA


Calendar GMT Actual Previous Consensus TEForecast
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 92.7 93.2 93 91.1
2020-11-24 09:00 AM Nov 90.7 92.5 90.1 90.1
2020-12-18 09:00 AM Dec 90.7 90
2021-01-27 09:00 AM Jan
2021-02-24 09:00 AM Feb
2021-03-25 09:00 AM Mar


News Stream
German Business Climate Drops Less than Expected
The Ifo Business Climate indicator for Germany dropped to 90.7 in November 2020 from a downwardly revised 92.5 in the previous month, still remaining above market expectations of 90.1. Companies became more pessimistic regarding developments over the coming months following the imposition of tougher restriction measures to curb the spread of the COVID-19 pandemic, while their assessments of the current situation were also a little worse. Sentiment deteriorated among service providers (-3.1 vs 3.8 in October), traders (-4.0 vs -0.2) and constructors (-0.1 vs 0.3). Meanwhile, confidence among manufacturers improved slightly (3.5 vs 1.5).
2020-11-24
German Business Climate Deteriorates in October
The Ifo Business Climate indicator for Germany dropped to 92.7 in October 2020, from a seven-month high of 93.2 in the previous month and slightly below market expectations of 93.0. Companies were considerably more skeptical regarding developments over the coming months following the imposition of tougher restriction measures to curb the spread of the COVID-19 pandemic. In contrast, firms assessed their current situation as better than in the previous month.
2020-10-26
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

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).