The Ifo Business Climate indicator for Germany rose to 99.2 in May 2021, from the previous month's revised figure of 96.6 and above market expectations of 98.2. Business morale was at the highest level since May 2019, as companies were more satisfied with their current business situation (95.7 vs 94.2 in April), and were also more optimistic regarding the coming months (102.9 vs 99.2). In the service sector, the index climbed to 13.7, its highest value since February 2020 on the back of much more optimistic expectations; while in the trade sector, it jumped to 8.4, the highest since April 2019, as businesses were more satisfied with their current situation. Sentiment improved also among manufacturers (25.7 vs 25.1 in April) and constructors (2.8 vs 0.7). source: Ifo Institute

Business Confidence in Germany averaged 97.76 points from 1991 until 2021, 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 June of 2021.

Business Confidence in Germany is expected to be 99.00 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 101.00 in 12 months time. In the long-term, the Germany Ifo Business Climate Index is projected to trend around 106.00 points in 2022 and 102.00 points in 2023, according to our econometric models.

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Germany Ifo Business Climate Index

Actual Previous Highest Lowest Dates Unit Frequency
99.20 96.60 109.80 75.60 1991 - 2021 points Monthly
2015=100, SA


Calendar GMT Actual Previous Consensus TEForecast
2021-02-22 09:00 AM Feb 92.4 90.3 90.5 91
2021-03-26 09:00 AM Mar 96.6 92.7 93.2 94
2021-04-26 08:00 AM Apr 96.8 96.6 97.8 97.5
2021-05-25 08:00 AM May 99.2 96.6 98.2 98.5
2021-06-24 08:00 AM Jun 99.2 99
2021-07-26 08:00 AM Jul
2021-08-25 08:00 AM Aug
2021-09-24 08:00 AM Sep
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
German Business Climate Hits 2-Year High
The Ifo Business Climate indicator for Germany rose to 99.2 in May 2021, from the previous month's revised figure of 96.6 and above market expectations of 98.2. Business morale was at the highest level since May 2019, as companies were more satisfied with their current business situation (95.7 vs 94.2 in April), and were also more optimistic regarding the coming months (102.9 vs 99.2). In the service sector, the index climbed to 13.7, its highest value since February 2020 on the back of much more optimistic expectations; while in the trade sector, it jumped to 8.4, the highest since April 2019, as businesses were more satisfied with their current situation. Sentiment improved also among manufacturers (25.7 vs 25.1 in April) and constructors (2.8 vs 0.7).
2021-05-25
German Business Morale Rises Less Than Expected
The Ifo Business Climate indicator for Germany rose to 96.8 in April 2021, little-changed from the previous month's 96.6 and below market expectations of 97.8. Still, the latest reading was the highest since June 2019 and signaled an improvement in business morale, as companies raised their assessments of the current business situation once again (94.1 vs 93.1 in March). On the other hand, they were no longer quite so optimistic about the coming six months (99.5 vs 100.3), as both the third wave of infections and bottlenecks in intermediate products hit economic recovery. Sentiment improved among manufacturers (25.3 vs 24.0) and traders (-0.5 vs -1.4), but deteriorated among service providers (3.5 vs 6.6) and constructors (0.4 vs 2.4).
2021-04-26
German Business Climate at Near 2-Year High
The Ifo Business Climate indicator for Germany rose to 96.6 in March 2021, the highest level since June 2019 and comfortably above market expectations of 93.2. Companies became optimistic regarding developments over the coming months (100.4 vs 95.0 in February), while their assessments of the current situation were also better (93.0 vs 90.6). Sentiment among manufacturers improved firmly (11.2 vs 2.7) as export expectations exploded due to strong demand from the US and China, while that among service providers also rose markedly (6.5 vs -2.2). Business confidence among constructors was also back in positive territory (2.3 vs -2.8) and that among traders became less negative (-1.4 vs -14.6).
2021-03-26
German Business Climate Improves in February
The Ifo Business Climate indicator for Germany rose to 92.4 in February 2021, up from an upwardly revised 90.3 in the previous month and above market expectations of 90.5. Companies became less pessimistic regarding developments over the coming months (94.2 vs 91.5 in January), while their assessments of the current situation were also a little better (90.6 vs 89.2). Sentiment improved among manufacturers (16.1 vs 9.1 in January), service providers (-2.2 vs -4.4), traders (-14.6 vs -17.2) and constructors (-3.6 vs -4.9).
2021-02-22

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).