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Data from ZEW / IFO / GfK. Forecasts by Sigmanomics Forecast Engine.
GermanyGermany Ifo Current Conditions climbed to 89.5 in September 2026
ZEW / IFO / GfKMonthlyReleased September 2026
Germany Ifo Current Conditions climbed to 89.5 in September 2026, up 1 from August's 88.5 reading. The reading matched the 89 consensus. Ifo Current Conditions has now risen for 3 consecutive months. Over the past 3 months, Ifo Current Conditions averaged 87.5, vs 86.17 in the prior 3-month window. Ifo Current Conditions is now the highest in 36 months.
Latest Release
89.5
Actual
89
Consensus
88.5
Previous
Median Absolute Error
±0.66
across last 12 releases
Last Call
Sep 2026
Predicted: 89.18
Actual: 89.5
Error: -0.33
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| FTSE 100 | ▼ Inverse | −0.71 | INDEX | Moves against | → View |
| DAX | ▼ Inverse | −0.31 | INDEX | Moves against | → View |
| XAU/USD | ▼ Inverse | −0.29 | COMMODITIES | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Ifo Current Conditions (Germany) was reported at 89.50 in September 2026. This beat the market consensus of 89.00 by 0.50. The reading rose from the previous value of 88.50. Trailing 12-month context per ETL data through September 2026. Over the past 12 months, the indicator has averaged 86.65, ranging from 85.30 to 89.50 across 11 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 88.17, up from the prior three at 86.60. Volatility over the past year (σ 1.24) is higher than the prior year (σ 0.64). In September readings over the past 3 years, Ifo Current Conditions has averaged 86.53.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with FTSE 100 (Bearish FTSE 100). A secondary relationship exists with DAX, negatively correlated (Bearish DAX). Over the last 12 releases, the Sigmacast model's median absolute error is 0.66.
WHAT TO WATCH NEXT
The next release is scheduled for October 26, 2026. Same-country events in the next 14 days include Bundesbank Nagel Speech (Oct 17) and Producer Price Index YoY (Oct 20).
Auto-generated from current model state · Refreshes on each release · Last update September 2026.
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Ifo Current Conditions - DE
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About Ifo Current Conditions — Germany
DEFINITION
Ifo Current Conditions is a widely recognized financial indicator that measures the current economic situation in Germany. It is based on a monthly survey of over 9,000 businesses across various industries, providing valuable insights into the country's economic performance. This indicator is closely monitored by investors, policymakers, and analysts as it reflects the overall health of the German economy and can impact financial markets. A higher Ifo Current Conditions reading indicates a strong economy, while a lower reading suggests a weaker economic environment.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Sep 2026): actual 89.5, consensus 89. Prior reading (Aug 2026): 88.5. Before that (Jul 2026): 86.5.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with FTSE 100 (Bearish FTSE 100, r=-0.71) — a useful reference for index-focused traders.
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