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 - Friday 22 March 2024 09:00

Previous
85.7
Revised
85.7
Forecast
86
Actual
87.8

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

Next event - Monday 22 April 2024 08:00

Previous
87.8
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 87.8 against a forecast of 86.

Past events

Date
Forecast
Actual
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
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

Economic context

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

PreviousLatest
Consumer Price Index (EU norm) (YoY)Bearish change3.2%2.4%
Unemployment ChangeBullish change11K4K
Unemployment Rate s.a.(no change)5.9%5.9%
Retail Sales (MoM)Bearish change-0.4%-1.9%
Retail Sales (YoY)Bearish change-1.4%-2.7%
Business ClimateBullish change-0.41-0.3
Consumer Confidence(no change)-14.9-14.9
Economic Sentiment IndicatorBullish change95.596.3
Harmonized Index of Consumer Prices (YoY)Bullish change2.9%3.2%
Gross Domestic Product (QoQ)(no change)0.6%0.6%
Gfk Consumer Confidence SurveyBullish change-28.8-27.4
IFO – Current AssessmentBullish change86.988.1
IFO – ExpectationsBullish change84.487.5
HCOB Composite PMIBullish change49.249.9
HCOB Manufacturing PMIBearish change46.545.7
HCOB Services PMIBullish change50.251.1
HCOB Composite PMIBullish change46.347.4
HCOB Manufacturing PMIBearish change42.541.6
HCOB Services PMIBullish change48.349.8
HCOB Composite PMIBearish change48.147.7
HCOB Manufacturing PMIBearish change47.145.8
HCOB Services PMIBearish change48.447.8
Consumer ConfidenceBullish change-15.5-14.9
Producer Price Index (MoM)Bearish change0.2%-0.4%
Producer Price Index (YoY)Bullish change-4.4%-4.1%
ZEW Survey – Current SituationBullish change-81.7-80.5
ZEW Survey – Economic SentimentBullish change19.931.7
ZEW Survey – Economic SentimentBullish change2533.5
Core Harmonized Index of Consumer Prices (MoM)(no change)0.7%0.7%
Core Harmonized Index of Consumer Prices (YoY)(no change)3.1%3.1%
Harmonized Index of Consumer Prices (MoM)(no change)0.6%0.6%

About IFO – Business Climate

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

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