Business confidence · Germany
Germany Ifo Business Climate
The Germany Ifo Business Climate asks companies in Germany how they judge current business conditions and what they expect for the coming months.
- Importance
- High
- Publié
- Monthly
- Prochaine publication
- Devise
- EUR · euro
- Banque centrale
- The European Central Bank (with the Bundesbank)
Derniers chiffres
La dernière publication, pour OCT, est parue le 2026-10-26 et s’est établie à 90.2. C’est au-dessus du consensus de 90. C’est plus que 89.9 la fois précédente.
A stronger figure than expected points to a healthier economy: it usually supports the euro and local stocks, and can push bond yields up.
Sur les 12 dernières publications, la valeur est allée de 84.4 à 90.2, avec une moyenne de 87.5. Elle a augmenté trois publications d’affilée.
| Publié | Pour | Réel | Consensus | Précédent |
|---|---|---|---|---|
| 26 Oct 2026 | OCT | 90.2 | 90 | 89.9 |
| 24 Sep 2026 | SEP | 89.9 | 89 | 88.8 |
| 25 Aug 2026 | AUG | 88.8 | 87.2 | 86.7 ® |
| 24 Jun 2026 | JUN | 85.6 | 85.6 | 85.0 ® |
| 22 May 2026 | MAY | 84.9 | 84.2 | 84.5 ® |
| 24 Apr 2026 | APR | 84.4 | 85.5 | 86.3 ® |
| 25 Mar 2026 | MAR | 86.4 | 86.1 | 88.4 ® |
| 23 Feb 2026 | FEB | 88.6 | 88.4 | 87.6 |
| 26 Jan 2026 | JAN | 87.6 | 88.1 | 87.6 |
| 17 Dec 2025 | DEC | 87.6 | 88.2 | 88.0 ® |
| 24 Nov 2025 | NOV | 88.1 | 88.5 | 88.4 |
| 27 Oct 2025 | OCT | 88.4 | 88 | 87.7 |
Pourquoi c’est important
Confidence leads hiring and investment decisions, so these surveys often turn before the hard data. Germany's Ifo and ZEW, and Japan's Tankan, are among the most market-moving releases for the euro and the yen.
Mode de calcul
Survey answers (better/same/worse) are turned into a balance (positive minus negative answers) or an index around a long-run average of 100; the release separates current conditions from expectations.
Ce que signifient les variations
- The expectations component turns first; watch its direction over several months.
- A gap between strong current conditions and weak expectations often marks a peak.
Supérieur aux attentes : A stronger figure than expected points to a healthier economy: it usually supports the euro and local stocks, and can push bond yields up.
Inférieur aux attentes : A weaker figure than expected points to slowing activity: the euro tends to soften and markets price in lower rates.
Un bref historique
Business tendency surveys began in Germany (Ifo) and other European countries after the Second World War; the Bank of Japan's Tankan has been run for decades, and the ZEW financial-expert survey since 1991.
Questions
What is the Germany Ifo Business Climate?
The Germany Ifo Business Climate asks companies in Germany how they judge current business conditions and what they expect for the coming months.
What was the latest Germany Ifo Business Climate?
90.2 for OCT, published on 26 October 2026 (consensus 90, previous 89.9).
When is the next Germany Ifo Business Climate?
On Tuesday 24 November 2026 at 09:00 UTC.
Contenu éducatif uniquement, pas un conseil en investissement. Les chiffres sont les résultats publiés tels qu’enregistrés par notre calendrier ; les réactions de marché décrites sont typiques, non garanties.