X

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 - Wednesday 24 May 2023 08:00

Previous
93.4
Revised
93.4
Forecast
93
Actual
91.7

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

Next event - Friday 23 June 2023 08:00

Previous
91.7
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 91.7 against a forecast of 93.

Past events

Date
Forecast
Actual
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
Friday 24 September 2021 08:00
100.4
98.8
Wednesday 25 August 2021 08:00
100.4
99.4
Monday 26 July 2021 08:00
102.1
100.8
Thursday 24 June 2021 08:00
100.6
101.8
Tuesday 25 May 2021 08:00
98.2
99.2
Monday 26 April 2021 08:00
97.8
96.8
Friday 26 March 2021 09:00
93.2
96.6
Monday 22 February 2021 09:00
90.5
92.4
Monday 25 January 2021 09:00
91.8
90.1
Friday 18 December 2020 09:00
90
92.1
Tuesday 24 November 2020 09:00
90.7
90.7
Monday 26 October 2020 09:00
93
92.7
Thursday 24 September 2020 08:00
93.8
93.4
Tuesday 25 August 2020 08:00
92.2
92.6
Monday 27 July 2020 08:00
89.3
90.5
Wednesday 24 June 2020 08:00
85
86.2

Economic context

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

PreviousLatest
Core Harmonized Index of Consumer Prices (MoM)Bearish change1%0.2%
Core Harmonized Index of Consumer Prices (YoY)Bearish change5.6%5.3%
Harmonized Index of Consumer Prices (MoM)Bearish change0.6%0%
Harmonized Index of Consumer Prices (YoY)Bearish change7%6.1%
Unemployment RateBullish change6.6%6.5%
30-y Bond AuctionBullish change3.81%3.98%
UnemploymentBullish change7.9%7.8%
HCOB Manufacturing PMIBullish change42.943.2
HCOB Manufacturing PMIBearish change46.845.9
HCOB Manufacturing PMIBearish change4948.4
Retail Sales (MoM)Bullish change-2.4%0.8%
Retail Sales (YoY)Bullish change-8.6%-4.3%
Harmonized Index of Consumer Prices (YoY)Bearish change7.6%6.3%
Gross Domestic Product (QoQ)Bullish change0.5%0.6%
Gross Domestic Product (YoY)Bullish change1.8%1.9%
Unemployment ChangeBullish change24K9K
Unemployment Rate s.a.(no change)5.6%5.6%
Business ClimateBearish change0.510.19
Consumer Confidence(no change)-17.4-17.4
Gfk Consumer Confidence SurveyBullish change-25.8-24.2
Gross Domestic Product (QoQ)Bearish change0%-0.3%
Gross Domestic Product (YoY)Bearish change-0.1%-0.5%
Gross Domestic Product w.d.a (YoY)Bearish change0.2%-0.2%
IFO – Current AssessmentBearish change95.194.8
IFO – ExpectationsBearish change91.788.6
HCOB Composite PMIBearish change54.153.3
HCOB Manufacturing PMIBearish change45.844.6
HCOB Services PMIBearish change56.255.9
HCOB Composite PMIBullish change54.254.3
HCOB Manufacturing PMIBearish change44.542.9
HCOB Services PMIBullish change5657.8
HCOB Composite PMIBearish change52.451.4
HCOB Manufacturing PMIBullish change45.646.1
Consumer ConfidenceBullish change-17.5-17.4

About IFO – Business Climate

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

Related events

Australia
Gross Domestic Product (QoQ)
Canada
Gross Domestic Product Annualized
Switzerland
Gross Domestic Product s.a. (QoQ)
China
Non-Manufacturing PMI
China
Gross Domestic Product (YoY)
China
Gross Domestic Product (QoQ)
China
NBS Manufacturing PMI
Germany
Gross Domestic Product (QoQ)
Eurozone
Gross Domestic Product s.a. (YoY)
Eurozone
Gross Domestic Product s.a. (QoQ)
Japan
Gross Domestic Product (QoQ)
Japan
Tankan Large Manufacturing Index
New Zealand
Gross Domestic Product (YoY)
New Zealand
Gross Domestic Product (QoQ)
United Kingdom
Gross Domestic Product (QoQ)
United States
ISM Manufacturing PMI
United States
Gross Domestic Product Annualized
United States
Nondefense Capital Goods Orders ex Aircraft
United States
ISM Services PMI
United States
Durable Goods Orders
Australia
S&P Global Manufacturing PMI
Australia
National Australia Bank's Business Confidence (QoQ)
Australia
S&P Global Services PMI
Australia
AiG Performance of Mfg Index
Australia
AiG Industry Index
Australia
Gross Domestic Product (YoY)
Canada
Bank of Canada Business Outlook Survey
Canada
Gross Domestic Product (MoM)
Canada
Ivey Purchasing Managers Index
Canada
Ivey Purchasing Managers Index s.a
Canada
Gross Domestic Product (QoQ)
Canada
S&P Global Manufacturing PMI
Switzerland
KOF Leading Indicator
Switzerland
Industrial Production (YoY)
Switzerland
Gross Domestic Product (YoY)
Switzerland
ZEW Survey – Expectations
China
Industrial Production (YoY)
China
Caixin Services PMI
China
Caixin Manufacturing PMI
Germany
ZEW Survey – Economic Sentiment
Germany
IFO – Current Assessment
Germany
S&P Global/BME Manufacturing PMI
Germany
IFO – Expectations
Germany
S&P Global/BME Composite PMI
Germany
ZEW Survey – Current Situation
Germany
Gross Domestic Product w.d.a (YoY)
Germany
Gross Domestic Product (YoY)
Germany
Factory Orders s.a. (MoM)
Eurozone
ZEW Survey – Economic Sentiment
Eurozone
S&P Global Composite PMI
Eurozone
Industrial Production s.a. (MoM)
Eurozone
Business Climate
Spain
S&P Global Services PMI
Spain
S&P Global Manufacturing PMI
France
Gross Domestic Product (QoQ)
Italy
Gross Domestic Product (YoY)
Italy
S&P Global Manufacturing PMI
Italy
Gross Domestic Product (QoQ)
Italy
S&P Global Services PMI
Japan
Tankan Large All Industry Capex
Japan
Tankan Large Manufacturing Outlook
Japan
Industrial Production (YoY)
Japan
Gross Domestic Product Annualized
New Zealand
Business NZ PMI
New Zealand
NZIER Business Confidence (QoQ)
Poland
Purchasing Manager Index
United Kingdom
Manufacturing Production (MoM)
United Kingdom
S&P Global/CIPS Composite PMI
United Kingdom
Manufacturing Production (YoY)
United Kingdom
Gross Domestic Product (MoM)
United Kingdom
Industrial Production (MoM)
United Kingdom
Gross Domestic Product (YoY)
United Kingdom
NIESR GDP Estimate (3M)
United Kingdom
S&P Global/CIPS Manufacturing PMI
United States
Durable Goods Orders ex Defense
United States
S&P Global Manufacturing PMI
United States
S&P Global Services PMI
United States
Chicago Fed National Activity Index
United States
Factory Orders (MoM)
United States
ISM Services New Orders Index
United States
ISM Manufacturing New Orders Index
United States
Philadelphia Fed Manufacturing Survey
United States
S&P Global Composite PMI
United States
Chicago Purchasing Managers' Index
United States
Durable Goods Orders ex Transportation
United States
Gross Domestic Product Price Index
 
Continue to site >