News from 2022-09-14 / KfW Research
KfW-ifo SME Barometer August 2022
Muted sentiment, dismal outlook
The cocktail of exploding energy costs, waning purchasing power, major uncertainties around natural gas supplies and the ongoing war in Ukraine is increasingly spoiling the mood among SMEs. SME business sentiment dropped for the third consecutive month in August. Situation assessments continue to slide and expectations are more pessimistic than almost ever before. We expect the German economy to contract by 0.3% in 2023 after growing by 1.4% in the current year.
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