German business sentiment unchanged in January - Ifo

By Michele Maatouk

Date: Monday 26 Jan 2026

(Sharecast News) - German business sentiment was unchanged in January, according to a survey released on Monday by the Ifo Institute.
The business climate index was steady versus December at 87.6. The current situation index nudged up to 85.7 in January from 85.6 the month before, while the expectations index dipped to 89.5 from 89.7.

The manufacturing index improved to -12.2 in January from -14.6 in December, while the service sector gauge fell to -2.6 from -2.1. The index for trade came in at -21.1 this month, up from -24.6 in December, while the gauge for the construction sector rose to -14.2 from -14.9.

Ifo Institute president Clemens Fuest said: "The German economy is starting the new year with little momentum."

Carsten Brzeski, global head of macro at ING, said: "The reading should be taken with a pinch of salt, as it is unclear whether most participants sent in their answers before or after US President Donald Trump's decision not to impose additional tariffs on several European countries.

"More generally speaking, the unchanged Ifo index reflects the uncertainty that has hit the German economy again on the back of geopolitical tensions and tariff threats."

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