Overview
- The Ifo business-climate index rose to 88.4 in October from 87.7, driven by improved expectations even as firms rated the current situation slightly worse.
- Survey detail showed brighter outlooks in industry, services and trade, with a continued order shortfall and weak capacity use highlighting ongoing strain.
- GfK/NIM reported the consumer climate for November at −24.1, as income expectations fell to 2.3 points, the lowest since March, weighing on spending plans.
- Ifo president Clemens Fuest warns of a multi‑year decline marked by higher state consumption and depressed corporate investment, and he calls for a reform plan by spring 2026.
- Fuest’s proposals include halting the Mütterrente and cutting documentation rules he estimates could free up as much as €146 billion annually, drawing CDU support and social‑welfare pushback.