The SME business climate rises for the fifth consecutive month in September, standing at -8.1 points, up from -12.5 points previously. Once again, both the assessment of the current situation and business expectations for the next six months improve at the same time. It is also noteworthy that the export and employment expectations of small and medium-sized enterprises continue to improve – the former are now even above their long-term average. The economic recovery is therefore now almost impossible to stop.

KfW-ifo SME Barometer: September 2026(PDF, 148 KB, accessible)