Short-term industry forecasting on basis of results of the Ifo Business Survey

The results of the Ifo Business Survey are widely regarded as early indicators for the German economy. The assessments of the business conditions has a publication lead over the official statistics of six weeks. The business expectations point three to six months into the future. If one uses the survey results in models, with or without data from the official statistics, one can reliably forecast the short-term economic development of various aspects of the economy, such as economic activity at the industry level.