The business climate among small and medium-sized enterprises improved in February from 6.1 points to 16.4 balance points. In its 100th issue the KfW-ifo SME barometer showed the third highest increase in the business climate since the beginning of the series.
The impulses are emanating from both components. Business expectations are virtually exploding after two strong increases in the previous months and currently have improved by 8.8 points to 12.2 balance points.
Only one time since German reunification has such a high increase in expectation been achieved. In contrast, the sound improvement in the assessments of the current situation seems almost modest (+3.4 points to 20.3 balance points).
"The very clear improvement in business climate and expectations in the SME sector is pleasing and confirms our positive forecast for the economy. Already in the first quarter the German economy will grow soundly again," said Dr Jörg Zeuner, Chief Economist of KfW. At the same time, we need to maintain a grip on reality. Very strong increases in expectations over a short period harbour some potential for setbacks if disappointments arise.
"The enterprises will have to realise that the recession in the Euro area will continue to have a braking effect for some time and the policy mix in the reforming countries does not allow for very great expectations for the European economy. In addition, the difficult election results in Italy bring up new questions."
Along with the SMEs, in February large enterprises also assessed their business situation (+3.3 points to 12.3 balance points) and their expectations (+5.1 points to 4.8 balance points) more favourably than in the previous month. Their business climate improved by 4.2 points to 8.8 balance points. By itself this is a good result but fades somewhat when measured against the vigorous improvement in sentiment in SMEs and which again widens the gap between both size categories after it had recently closed somewhat.
The current good mood, as the KfW-ifo SME barometer finds, is based on a broad foundation. Besides the large retailers, which are experiencing volatility due to the mood, across all sectors the climate has improved. The increases are particularly strong in the manufacturing industry, wholesale trade and construction, which are key to economic growth. The SME business climate in the building industry climbed to 32.5 balance points, thereby reaching a new all-time high that even exceeded the very good mood at the time of the construction boom after reunification.
A detailed analysis with data tables and charts on the current KfW-ifo SME barometer are available under www.kfw.de/mittelstandsbarometer.Contact:
Christine Volk | presseportal
How Strong Brands Translate into Money
15.11.2016 | Kühne Logistics University - Wissenschaftliche Hochschule für Logistik und Unternehmensführung
Demographic change depresses tax revenues
04.11.2016 | Fraunhofer-Institut für Angewandte Informationstechnik FIT
Researchers from the University of Hamburg in Germany, in collaboration with colleagues from the University of Aarhus in Denmark, have synthesized a new superconducting material by growing a few layers of an antiferromagnetic transition-metal chalcogenide on a bismuth-based topological insulator, both being non-superconducting materials.
While superconductivity and magnetism are generally believed to be mutually exclusive, surprisingly, in this new material, superconducting correlations...
Laser-driving of semimetals allows creating novel quasiparticle states within condensed matter systems and switching between different states on ultrafast time scales
Studying properties of fundamental particles in condensed matter systems is a promising approach to quantum field theory. Quasiparticles offer the opportunity...
Among the general public, solar thermal energy is currently associated with dark blue, rectangular collectors on building roofs. Technologies are needed for aesthetically high quality architecture which offer the architect more room for manoeuvre when it comes to low- and plus-energy buildings. With the “ArKol” project, researchers at Fraunhofer ISE together with partners are currently developing two façade collectors for solar thermal energy generation, which permit a high degree of design flexibility: a strip collector for opaque façade sections and a solar thermal blind for transparent sections. The current state of the two developments will be presented at the BAU 2017 trade fair.
As part of the “ArKol – development of architecturally highly integrated façade collectors with heat pipes” project, Fraunhofer ISE together with its partners...
At TU Wien, an alternative for resource intensive formwork for the construction of concrete domes was developed. It is now used in a test dome for the Austrian Federal Railways Infrastructure (ÖBB Infrastruktur).
Concrete shells are efficient structures, but not very resource efficient. The formwork for the construction of concrete domes alone requires a high amount of...
Many pathogens use certain sugar compounds from their host to help conceal themselves against the immune system. Scientists at the University of Bonn have now, in cooperation with researchers at the University of York in the United Kingdom, analyzed the dynamics of a bacterial molecule that is involved in this process. They demonstrate that the protein grabs onto the sugar molecule with a Pac Man-like chewing motion and holds it until it can be used. Their results could help design therapeutics that could make the protein poorer at grabbing and holding and hence compromise the pathogen in the host. The study has now been published in “Biophysical Journal”.
The cells of the mouth, nose and intestinal mucosa produce large quantities of a chemical called sialic acid. Many bacteria possess a special transport system...
10.01.2017 | Event News
09.01.2017 | Event News
05.01.2017 | Event News
17.01.2017 | Earth Sciences
17.01.2017 | Materials Sciences
17.01.2017 | Architecture and Construction