Germany Business Confidence July 2021


Germany: Business confidence declines but remains in optimistic terrain in July

July 29, 2021

Business confidence fell to 100.8 in July from June's 101.7. However, the index remained north of the 100-threshold, indicating optimism among businesses.

The downtick reflected significantly less optimism regarding business expectations, likely due to the spread of more infectious Covid-19 variants that threaten a new lockdown, as well as supply-side issues hampering activity. Views regarding the current situation improved. Looking at sector-level data, sentiment worsened in the manufacturing, service, and trade sectors while confidence in the construction sector improved.

FocusEconomics Consensus Forecast panelists expect gross fixed investment to expand 3.9% in 2021. In 2022, the panel sees investment growth rising to 4.0%.

Author:, Economist

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Germany Business Confidence Chart

Germany Business Confidence July 2021

Note: Ifo Business Climate Index, 2015=100.
Source: Ifo Business Survey

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