KfW-ifo SME Barometer January 2020
News from 2020-02-05 / KfW Research
A subdued start to the year for German SMEs
The year 2020 began with a setback for small and medium-sized enterprises. Their business climate dropped to the lowest level since August of last year. The decline in sentiment is exclusively due to the renewed drop in expectations. Large enterprises, however, showed clear signs of life. The positive trend among large enterprises reflects easing tensions in the foreign trade environment, while the hitherto reliable domestic economy lost a bit of steam. The coronavirus outbreak currently poses a new burden. All in all, economic momentum remains subdued for the time being.