The Ifo Business Climate Index in Germany rose to 95.0 in November 2019 from a revised 94.7 in the previous month, matching market expectations. Companies’ assessment of the current situation was slightly better (97.9 vs 97.8 in October), while their expectations were also less pessimistic (92.1 vs 91.6). Across sectors, sentiment improved among service providers (17.3 vs 16.7) and traders (0.9 vs -3.3) amid signs that business will be very good this Christmas. Meanwhile, confidence among manufacturers continued to deteriorate (-5.9 vs -5.3) as companies still find their current order backlog very disappointing and as they are planning further production cutbacks. Morale among constructors was also weaker (20.4 vs 21.0). Business Confidence in Germany averaged 98.09 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 80 Index Points in March of 2009. source: Ifo Institute

Business Confidence in Germany is expected to be 95.90 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 99.00 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.

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Germany Ifo Business Climate Index
Calendar GMT Actual Previous Consensus TEForecast
2019-08-26 08:00 AM Ifo Business Climate Aug 94.3 95.8 95.1 95.1
2019-09-24 08:00 AM Ifo Business Climate Sep 94.6 94.3 94.4 94.4
2019-10-25 08:00 AM Ifo Business Climate Oct 94.6 94.6 94.5 94.2
2019-11-25 09:00 AM Ifo Business Climate Nov 95.0 94.7 95.0 95.1
2019-12-18 09:00 AM Ifo Business Climate Dec 95.0 95 95.9
2020-01-27 09:00 AM Ifo Business Climate Jan
2020-02-24 09:00 AM Ifo Business Climate Feb


Germany Business Last Previous Highest Lowest Unit
Business Confidence 95.00 94.70 109.80 80.00 Index Points [+]
Manufacturing PMI 44.10 42.10 63.30 32.00 [+]
Services PMI 51.70 51.60 60.30 41.30 Index Points [+]
Composite Pmi 49.40 48.90 59.00 48.50 Index Points [+]
Industrial Production -5.30 -4.50 15.30 -21.80 percent [+]
Industrial Production Mom -1.70 -0.60 4.00 -6.90 percent [+]
Manufacturing Production -6.10 -5.20 15.50 -24.10 percent [+]
Capacity Utilization 82.60 83.90 88.80 70.30 percent [+]
New Orders 101.50 101.70 113.00 8.80 Index Points [+]
Factory Orders -0.40 1.50 27.10 -15.70 percent [+]
Changes in Inventories -7.73 2.64 11.20 -8.53 EUR Billion [+]
Bankruptcies 1626.00 1644.00 3755.00 416.00 Companies [+]
Corporate Profits 174.78 182.21 187.97 92.45 EUR Billion [+]
Zew Economic Sentiment Index 10.70 -2.10 89.60 -63.90 [+]
Car Production 423400.00 405400.00 583399.00 265542.00 Units [+]
Car Registrations 299127.00 284593.00 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 -8.00 -9.30 46.60 -30.40 percent [+]
Steel Production 3322.93 3351.73 4744.00 907.00 Thousand Tonnes [+]
Competitiveness Index 81.80 82.84 82.84 5.37 Points [+]
Competitiveness Rank 7.00 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 22.00 24.00 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 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). 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 December of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
95.00 94.70 109.80 80.00 1991 - 2019 Index Points Monthly
2015=100, SA




Country Last Previous
Australia 0.00 Nov/19 2
Brazil 62.50 Nov/19 59.3
Canada 60.00 Nov/19 48.2
China 50.20 Nov/19 49.3
Euro Area -0.23 Nov/19 -0.2
France 100.00 Nov/19 99
Germany 95.00 Nov/19 94.7
India 112.80 Sep/19 114
Indonesia 105.33 Sep/19 109
Italy 98.90 Nov/19 99.5
Japan 5.00 Sep/19 7
Mexico 49.90 Nov/19 50
Netherlands 2.80 Nov/19 3.6
Russia -5.00 Nov/19 -3
Saudi Arabia 3.00 Jun/16 -12
Singapore -5.00 Sep/19 -11
South Africa 26.00 Dec/19 21
South Korea 74.00 Nov/19 72
Spain -3.50 Nov/19 -8.9
Switzerland 93.00 Nov/19 94.8
Turkey 102.00 Nov/19 101
United Kingdom -44.00 Dec/19 -32
United States 48.10 Nov/19 48.3


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