Germany's self-employed remain pessimistic despite slight improvement in July

Berlin, Aug 12 (IANS) The business climate for Germany's self-employed saw a modest improvement in July, however, many self-employed individuals remain dissatisfied with their current situation, and their expectations are reportedly low.

According to the figures released Monday from the Jimdo-ifo business climate index for the self-employed, the index rose to -13.4 points, up from -14.0 points in June. "The self-employed are resisting the current slump," ifo expert Katrin Demmelhuber said.

Nevertheless, a persistent lack of demand continues to challenge the self-employed. In July, 44.4 percent of self-employed individuals reported being affected by a shortage of orders, compared to 44.0 percent in April.

Additionally, about a quarter of those surveyed said they were unable to fully offer their goods or services due to staffing shortages, supply chain issues, and other constraints, Xinhua news agency reported.

Meanwhile, business confidence among Germany's small- and medium-sized enterprises (SMEs) fell sharply for the third consecutive month in July, with the confidence index dropping by 4.2 points from the previous month. According to KfW Research, negative values in this indicator suggest below-average economic performance.

The Jimdo-ifo business climate index has tracked the business climate for solo self-employed individuals and microenterprises since August 2021. It covers all economic sectors, with a primary focus on service.

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