KfW-ifo SME Barometer August 2020
News from 2020-09-07 / KfW Research
Sentiment improvement in SMEs is losing steam
The initially very strong sentiment improvement driven by the relaxation of coronavirus restrictions since May is weakening. In August, however, SME business confidence continued to brighten but much less than in the preceding months, remaining well below the pre-crisis level of February. For the first time in a good two and a half years, large enterprises are slightly more upbeat than SMEs. The easy part of the recovery since the historic slump in eeconomic activity in April is over and bringing it closer to what it was before the crisis this coming autumn and winter will be rather challenging by comparison.