After both the business situation and expectations in the past months crashed, the current situation of companies in the digital sector has at least stabilized. The business situation index rose by 4 points to 34.9 points in October. However, business expectations for the coming months fell by a good 3 points to -18.4 points. In September, business expectations had already fallen by 10 points to -15.5 points. Digital Index of the industry association Bitkom and the opinion research institute Ifo is calculated from the two values and is 6.5 points slightly above the value of the previous month.
“Digital sector proves to be more crisis-proof than the majority of the German economy”
According to the Ifo Institute, the overall business situation declined slightly from 15.4 to 14.6 points, while business expectations rose from a very low level from -42.2 to -41.6 points. The combined business climate index stands at -15.6 points.
"The digital sector is proving to be more crisis-proof than the bulk of the German economy. Firstly, because its own processes are already largely digital and thus less vulnerable to crises, and secondly, because customers are demanding its services to make themselves crisis-proof,"
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."
