Dr Dirk Schumacher – Chief Economist of KfW

Dr Dirk Schumacher has been KfW Chief Economist and head of the company's economics department since April 2025.

Media and Comments on Current Topics

24.11.2025 | ifo business climate November 2025

Mitarbeiter tauschen sich während einer Besprechung aus.

“The ifo business climate has fluctuated recently. In this respect, today's decline, which was driven by expectations, comes as no surprise. However, it is important to note that corporate expectations have trended upward over the course of this year of great uncertainty. As the days soon become longer again, growth is likely to return. We expect a noticeable increase in gross domestic product in 2026, driven primarily by fiscal stimulus.”

Dr Dirk Schumacher