Germany Business Confidence November 2022


Germany: Business confidence picks up but remains pessimistic in November

November 24, 2022

Business confidence rose to 86.3 in November from October's 84.5. Consequently, the index remained entrenched below the 100-threshold, signaling pessimism among businesses.

The improvement in November was driven by firms in all sectors becoming less pessimistic about future business conditions. Less positively, firms in the manufacturing and services sectors became more pessimistic about present business conditions.

FocusEconomics Consensus Forecast panelists expect fixed investment to contract 0.5% in 2023, which is down 0.5 percentage points from last month’s forecast. For 2024, panelists see fixed investment growing 3.0%.


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Germany Business Confidence Chart

Germany Business Confidence November 2022

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

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