Business Climate of the Self-Employed in Germany has improved
The business climate for the solo self-employed and microenterprises in Germany improved in May. The “Jimdo-ifo Business Climate Index for the Self-Employed” rose to -11.8 points*, up from -13.8 points* in April. Business fared better, with only a few self-employed expressing dissatisfaction with their current situation. Expectations also brightened up somewhat, although they were still marked by skepticism. “The self-employed are increasingly hoping that the worst of the economic downturn is behind them,” says ifo expert Katrin Demmelhuber.
Yet, the lack of orders is still weighing on many self-employed people; 44% were affected by a lack of orders in April, down from 47.9% in January.). “The absence of an order backlog is putting further pressure on the self-employed,” says Demmelhuber.
The ifo Institute has been publishing the Jimdo-ifo Business Climate Index for solo self-employed persons and microenterprises (fewer than nine employees) since August 2021. As in the composite index, all sectors of the economy are taken into account. However, its main focus is the service sector.
*Balances, not seasonally adjusted
Data
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