In June 2024, the ifo Business Climate Index in the automotive industry stood at -9.3 points in June 2024. The business climate thus deteriorated compared to the previous month. The index had been in negative territory since June 2023. However, the value for the order backlog assessment improved.
What is the ifo Business Climate?
The ifo Business Climate is an indicator for economic activity in Germany. It is based on approximately 9,000 monthly responses from businesses in manufacturing, the service sector, trade, and construction. Companies are asked to give their assessments of the current business situation and their expectations for the next six months. They can describe their situation as “good,” “satisfactory,” or “poor” and their business expectations for the next six months as “more favorable,” “unchanged,” or “less favorable.” The balance value of the current business situation is the difference in the percentage shares of the responses “good” and “poor”; the balance value of expectations is the difference in the percentage shares of the responses “more favorable” and “less favorable.” The business climate is a transformed mean of the balances of the business situation and the expectations. To calculate the index values, the transformed balances are all normalized to the average for the year 2015.
Development of the ifo economic indicators in the automotive industry in Germany from June 2022 to June 2024
Characteristic
Business climate
Order backlog assessment
Production plans
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¹ Refers to companies from the manufacturing sector, construction, as well as wholesale and retail. The source provides no information on how many of the 7,000 surveyed companies were from the automotive industry as a sub-sector of the manufacturing sector.
Further values from the survey (business situation, business expectations, export expectations and capacity utilization) can be found in the Excel file in the download section.
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ifo Institut. (June 25, 2024). Development of the ifo economic indicators in the automotive industry in Germany from June 2022 to June 2024 [Graph]. In Statista. Retrieved July 27, 2024, from https://www.statista.com/statistics/1284780/automobile-industry-economic-indicators-ifo-germany/
ifo Institut. "Development of the ifo economic indicators in the automotive industry in Germany from June 2022 to June 2024." Chart. June 25, 2024. Statista. Accessed July 27, 2024. https://www.statista.com/statistics/1284780/automobile-industry-economic-indicators-ifo-germany/
ifo Institut. (2024). Development of the ifo economic indicators in the automotive industry in Germany from June 2022 to June 2024. Statista. Statista Inc.. Accessed: July 27, 2024. https://www.statista.com/statistics/1284780/automobile-industry-economic-indicators-ifo-germany/
ifo Institut. "Development of The Ifo Economic Indicators in The Automotive Industry in Germany from June 2022 to June 2024." Statista, Statista Inc., 25 Jun 2024, https://www.statista.com/statistics/1284780/automobile-industry-economic-indicators-ifo-germany/
ifo Institut, Development of the ifo economic indicators in the automotive industry in Germany from June 2022 to June 2024 Statista, https://www.statista.com/statistics/1284780/automobile-industry-economic-indicators-ifo-germany/ (last visited July 27, 2024)
Development of the ifo economic indicators in the automotive industry in Germany from June 2022 to June 2024 [Graph], ifo Institut, June 25, 2024. [Online]. Available: https://www.statista.com/statistics/1284780/automobile-industry-economic-indicators-ifo-germany/