KfW-ifo SME Barometer February 2021

After January was spent digesting the hard lockdown, February brought a hint of spring. SME business confidence rose again noticeably by 4.2 points to -10.1 balance points. Expectations in particular improved and assessments of the current business situation also improved slightly. But the gap remains wide between the services and retail businesses, which were hit hard by the restrictions, and construction and industrial firms. Sentiment among small and medium-sized manufacturers continued to rise strongly. In retail businesses, on the other hand, it was only the hope for better times that brought a slight improvement in business confidence in February, while their situation assessments were almost as negative as during the first lockdown.

KfW-ifo SME Barometer February 2021(PDF, 142 KB, non-accessible)