After both business conditions and expectations in recent months plummeted, at least the current situation of companies in the digital industry has stabilized. The business situation index rose in October by 4 points to 34.9 points. However, business expectations for the coming months fell by just over 3 points to -18.4 points. Already in September, business expectations had declined by 10 points to -15.5 points. The Digital Index of industry association Bitkom and opinion research institute Ifo is calculated from the two values and stands at 6.5 points, just above the previous month’s value.
“Digital industry proves more crisis-resistant than most of the German economy”
In the overall economy, according to the Ifo Institute, business conditions slightly decline from 15.4 to 14.6 points, while business expectations rise at a very low level from -42.2 to -41.6 points. The combined business climate here stands at -15.6 points.
“The digital industry proves more crisis-resistant than most of the German economy. On the one hand, because its own processes are already largely digital and therefore less crisis-prone, on the other hand, because customers demand its services to make themselves crisis-resistant,”
says Bitkom President Achim Berg.
“However, the digital industry cannot completely decouple itself from overall economic development. Given ongoing inflation, the energy crisis, and declining demand, many digital companies fear weaker business in the coming months.”
