News from 2023-09-19 / KfW Research
KfW-ifo SME Barometer August 2023
Business sentiment: Dry spell is getting longer and longer
The already poor sentiment among SMEs has deteriorated further. Business sentiment fell for the fourth consecutive month, dipping in August to the lowest level since the acute energy worries of October last year. Situation assessments fell more sharply than expectations, as they did in the previous month. However, sentiment among large enterprises deteriorated even more than among SMEs. Overall, the German economy will likely need to take baby steps to work its way out of the broad economic trough.