Tip: Activate javascript to be able to use all functions of our website

KfW-ifo SME Barometer July 2019

News from 2019-08-08 / KfW Research

SMEs are trending downward, manufacturers are alarmed

In July, SME business confidence continued the downward trend that began last year. Situation assessments as well as business expectations fell. The downturn in sentiment among manufacturers and large enterprises is concerning. Trade conflicts in particular are putting a dampener on global investment activity and, thus, Germany’s export-dependent capital goods industry. Sectors that rely on the automotive industry are also struggling with high technological and regulatory uncertainty.

KfW-ifo SME Barometer July 2019  (PDF, 211 KB, non-accessible)


KfW Research

KfW Group

Palmengartenstrasse 5-9

60325 Frankfurt




Economic Research

Economic Research

Economic development in Germany and around the world, studies on topics relevant to society such as environmental and climate protection, demography, globalisation, innovation and sustainability, impact of KfW promotional programmes.

Read more