The German printing and media industry continues to face headwinds, but a noticeable uptick in business expectations for the next six months hints at a potential turning point. According to the ifo Institute’s September 2025 survey, the seasonally adjusted business expectations index jumped by 9.4% to 94.1 points. While still below last year’s level, the shift reflects improving sentiment, particularly regarding future earnings, where the balance rose from -52 to -30 percentage points since May.
Current business conditions, however, remain subdued. The business situation index edged down to 85.0 points—0.7% lower than August—but is still 4.7% above the same month in 2024. Order backlogs and earnings assessments continue to weigh heavily, with 61% of companies rating their order books negatively and just 1% reporting positive earnings. Yet the rise in neutral outlooks suggests stabilization may be underway.
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