News from 2026-04-02 / KfW Research
KfW-ifo SME Barometer March 2026
Stuck in the Strait of Hormuz
By the end of February, the signs for SMEs were pointing to a recovery, if not even to an upswing. In March, however, the SME business climate fell sharply by 3.6 points to -18.2 in the face of the war in Iran. The companies assess their current situation even slightly better, but business expectations have deteriorated markedly.
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