News from 2025-08-06 / KfW Research
KfW-ifo SME Barometer July 2025
SME business sentiment continues to improve
In July, the SME business climate improved for the fifth consecutive month. The rise of 1.6 points to now -12.4 balance points was driven by a significant improvement in expectations, while situation assessments of small and medium-sized enterprises improved only marginally. The manufacturing sector experienced the strongest sentiment improvement. Despite trade-policy headwinds, the economic recovery is foreseeable.
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