IFO – Business Climate

This German business sentiment index released by the CESifo Group is closely watched as an early indicator of current conditions and business expectations in Germany. The Institute surveys more than 7,000 enterprises on their assessment of the business situation and their short-term planning. The positive economic growth anticipates bullish movements for the EUR, while a low reading is seen as negative (or bearish).

Most recent - Tuesday 24 September 2024 08:00

Previous
86.6
Revised
-
Forecast
86
Actual
85.4

Lower numbers than forecast tend to be bullish for xxx/EUR pairs and bearish for EUR/xxx pairs.

Next event - Monday 21 October 2024 08:00

Previous
-
Forecast
-
Actual
-

The typical/expected impact on EUR pairs is medium.

There is no forecast value for IFO – Business Climate yet - check back for updates.

Trading range

Forecast history

The most recent announced value for IFO – Business Climate was 85.4 against a forecast of 86.

Past events

Date
Forecast
Actual
Tuesday 24 September 2024 08:00
86
85.4
Monday 26 August 2024 08:00
86.5
86.6
Thursday 25 July 2024 08:00
88.9
87
Monday 24 June 2024 08:00
89.7
88.6
Monday 27 May 2024 08:00
90.3
89.3
Wednesday 24 April 2024 08:00
88.9
89.4
Friday 22 March 2024 09:00
86
87.8
Friday 23 February 2024 09:00
85.5
85.5
Thursday 25 January 2024 09:00
86.7
85.2
Monday 18 December 2023 09:00
87.8
86.4
Friday 24 November 2023 09:00
87.5
87.3
Wednesday 25 October 2023 08:00
85.9
86.9
Monday 25 September 2023 08:00
85.2
85.7
Friday 25 August 2023 08:00
86.7
85.7
Tuesday 25 July 2023 08:00
88
87.3
Monday 26 June 2023 08:00
90.7
88.5
Wednesday 24 May 2023 08:00
93
91.7
Monday 24 April 2023 08:00
94
93.6
Monday 27 March 2023 08:00
90.9
93.3
Wednesday 22 February 2023 09:00
91.4
91.1
Wednesday 25 January 2023 09:00
90.2
90.2
Monday 19 December 2022 09:00
87.2
88.6
Thursday 24 November 2022 09:00
85
86.3
Tuesday 25 October 2022 08:00
83.3
84.3
Monday 26 September 2022 08:00
87.1
84.3
Thursday 25 August 2022 08:00
86.8
88.5
Monday 25 July 2022 08:00
90.5
88.6
Friday 24 June 2022 08:00
92.9
92.3
Monday 23 May 2022 08:00
91.4
93
Monday 25 April 2022 08:00
89.1
91.8
Friday 25 March 2022 09:00
94.2
90.8
Tuesday 22 February 2022 09:00
96.5
98.9
Tuesday 25 January 2022 09:00
94.7
95.7
Friday 17 December 2021 09:00
95.3
94.7
Wednesday 24 November 2021 09:00
96.6
96.5
Monday 25 October 2021 08:00
97.9
97.7

Economic context

Recent economic data has been strongly bearish for EUR. Other recent announcements which may affect the market's interpretation of the next IFO – Business Climate result:

PreviousLatest
Producer Price Index (MoM)Bearish change0.7%0.6%
Producer Price Index (YoY)Bearish change-2.2%-2.3%
HCOB Composite PMIBullish change48.949.6
HCOB Composite PMIBullish change47.247.5
HCOB Services PMI(no change)50.650.6
HCOB Services PMIBullish change54.657
Unemployment Rate(no change)6.4%6.4%
Core Harmonized Index of Consumer Prices (MoM)Bearish change0.3%0.1%
Core Harmonized Index of Consumer Prices (YoY)Bearish change2.8%2.7%
Harmonized Index of Consumer Prices (MoM)Bearish change0.1%-0.1%
Harmonized Index of Consumer Prices (YoY)Bearish change2.2%1.8%
HCOB Manufacturing PMIBullish change40.340.6
HCOB Manufacturing PMIBearish change49.448.3
HCOB Manufacturing PMIBullish change50.553
Consumer Price Index (MoM)Bullish change-0.1%0%
Consumer Price Index (YoY)Bearish change1.9%1.6%
Harmonized Index of Consumer Prices (MoM)Bullish change-0.2%-0.1%
Harmonized Index of Consumer Prices (YoY)Bearish change2%1.8%
Consumer Price Index (EU Norm) (YoY)Bearish change1.2%0.8%
Consumer Price Index (YoY)Bearish change1.1%0.7%
Business ClimateBearish change-0.62-0.76
Consumer Confidence(no change)-12.9-12.9
Economic Sentiment IndicatorBearish change96.596.2
Unemployment ChangeBearish change2K17K
Unemployment Rate s.a.(no change)6%6%
Harmonized Index of Consumer Prices (YoY)Bearish change2.4%1.7%
Gross Domestic Product (QoQ)(no change)0.8%0.8%
Consumer Price Index (EU norm) (YoY)Bearish change2.2%1.5%
GfK Consumer Confidence SurveyBullish change-21.9-21.2
IFO – Current AssessmentBearish change86.484.4
IFO – ExpectationsBearish change86.886.3
HCOB Composite PMIBearish change5148.9
HCOB Manufacturing PMIBearish change45.844.8
HCOB Services PMIBearish change52.950.5
HCOB Composite PMIBearish change48.447.2
HCOB Manufacturing PMIBearish change42.440.3
HCOB Services PMIBearish change51.250.6
HCOB Composite PMIBearish change53.147.4
HCOB Manufacturing PMIBullish change43.944
HCOB Services PMIBearish change5548.3

About IFO – Business Climate

Country:Germany
Currency:EUR
Source:IFO Institute
Category:Economic Activity
Frequency:Monthly

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