Medium-sized companies: business climate Germany

In December 2023, the business climate among medium-sized companies in Germany was at a negative 19.1 points.
The business climate indicator shows balance values (percentage share of positive reports minus percentage share of negative reports) regarding the business situation and business expectations of around nine thousand medium-sized companies in Germany.

Business climate development for medium-sized companies in Germany from December 2021 to December 2023

Characteristic	Balance points
Dec '23	-19.1
Nov '23	-16
Oct '23	-17.1
Sep '23	-19.2
Aug '23	-18.3
Jul '23	-15.6
Jun '23	-11.1
May '23	-6
Apr '23	-3
Mar '23	-3.2
Feb '23	-8.3
Jan '23	-11.1
Dec '22	-14.5
Nov '22	-19.7
Oct '22	-23.8
Sep '22	-23.7
Aug '22	-16
Jul '22	-14.8
Jun '22	-5.3
May '22	-5
Apr '22	-6.8
Mar '22	-9.2
Feb '22	5.7
Jan '22	-1.2
Dec '21	-3

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Release date

December 2023

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Region

Germany

Survey time period

December 2021 to December 2023

Supplementary notes

According to the source, balances are adjusted seasonally and in accordance with average values, i.e. the long-term average value since January 2005 equals 0.

Figures preceding January 2023 are based on the base dataset from KfW (Kreditanstalt für Wiederaufbau - Credit Institute for Reconstruction). KfW is a state-owned development and investment bank in Germany.

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