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Results of the September 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 continued to decline in September to 18.9 balance points, from 20.1 points in the previous month. Although the current business situation clouded over considerably, it remains at a high level. More service providers are now optimistic about future business developments.

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 Services Sector (Balances, seasonally adjusted)
Climate 19.5 15.7 19.3 23.5 25.4 20.9 19.2 22.1 21.5 25.2 22.4 20.1 18.9
Situation 22.7 22.2 24.2 30.9 32.8 30.3 32.4 33.2 30.8 36.5 30.4 34.1 27.7
Expectations 16.3 9.4 14.6 16.3 18.3 11.9 6.8 11.5 12.6 14.4 14.6 6.9 10.4
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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