News from 2026-11-02 / KfW Research
KfW-ifo SME Barometer October 2026
Business climate improves despite challenging conditions
The business climate among small and medium-sized enterprises rises for the sixth consecutive month. In October, it increases slightly by 0.5 points to –7.8 balance points. SMEs’ assessments of the current situation and business expectations both improve slightly. The KfW-ifo Business Climate for SMEs therefore remains below its long-term average. Despite adverse conditions, including significantly higher oil and gas prices, the upward trend in business sentiment continues.
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