News from 2025-11-28 / KfW Research
KfW-ifo SME Barometer November 2025
Tougher than expected
SME business sentiment was treading water in November. It rose minimally from -14.6 to -14.5 balance points. Situation assessments dipped slightly while expectations rose somewhat. At the same time, the ongoing upward trend of business expectations is giving hope that growth momentum will pick up soon.
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