The business climate among small and medium-sized enterprises makes a considerable leap upwards in July. It rises by 4 points to -17.3 balance points. This is mainly due to markedly improved business expectations. In all sectors of the economy, the business climate improves significantly and, in the wake of the more positive business outlook, employment expectations among SMEs have also recovered somewhat.

KfW-ifo SME Barometer: July 2026(PDF, 161 KB, accessible)