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Results of the August 2014 Ifo Business Survey

German Service Sector: Ifo Business Climate Indicator for Service Sector Falls

The Ifo Business Climate Indicator for the German service sector declined in August to 20.1 balance points, from 22.4 in the previous month. Although the assessments of the current situation have improved significantly, the expectations for the next six months have clouded over noticeably. Nevertheless, the service companies plans to recruit clearly more additional staff.

Hans-Werner Sinn
President of the Ifo Institute

Ifo Business Climate in the Service Sector

Image Ifo Business Climate in the Service Sector

Time Series

German Service Sector (Balances, seasonally adjusted)
Climate 18.4 19.2 15.7 19.3 23.5 25.4 20.9 19.2 22.1 21.5 25.2 22.4 20.1
Situation 24.1 22.2 22.2 24.1 30.9 32.8 30.3 32.4 33.2 30.8 36.6 30.5 34.1
Expectations 12.9 16.3 9.4 14.6 16.2 18.2 11.9 6.7 11.5 12.6 14.4 14.6 6.9
Source: Ifo Business Survey

Explanatory note

The Ifo Business Survey of the service sector is based on ca. 2,500 monthly survey responses from firms in key segments of the tertiary sector, especially business-oriented segments (excl. distribution, financial services, Leasing, insurance and government). The survey is conducted and calculated in the same way as the Ifo Business Survey of industry and trade. The indicator for the Business Climate in the service sector has not yet been incorporated into the Ifo Business Climate Index for industry and trade.


Dr. Klaus Wohlrabe

Ifo Institute
Ifo Center for Business Cycle Analysis and Surveys
Phone: +49(0)89/9224-1229
Fax: +49(0)89/9224-1463
Email: wohlrabe @

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