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KfW-ifo SME Barometer November 2019

News from 2019-12-04 / KfW Research

SMEs are suspended in an economic no man’s land

Although the German economy narrowly avoided a technical recession in summer, a new direction is not yet discernible. The business climate in the small and medium-sized enterprise sector is still hugging the zero line, which stands for the long-term average and thus represents economic no man’s land. Despite trending downward for around one year now, assessments of the current business situation are still above average but expectations remain dominated by pessimism, although they recently improved slightly. The economic stalemate continues for the time being.

KfW-ifo SME Barometer November 2019  (PDF, 131 KB, non-accessible)


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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.

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