Germany - CLI Component Series & Turning Points

Component Series (Unit)

Source

Ifo business climate indicator (normal=100)

Ifo Institute for Economic Research

Orders inflow/demand: tendency (manufact.)

(% balance)

Ifo Institute for Economic Research

Export order books : level (manufacturing)

(% balance)

Ifo Institute for Economic Research

Total new orders (manufacturing) (2000 = 100)

Federal Statistical Office

Finished goods stocks: level (manufacturing)

(% balance)Inverted

Ifo Institute for Economic Research

Spread of interest rates (% per annum)

European Central Bank

Reference chronology of turning points

Trough 1959M2, Peak 1961M1, Trough 1963M3, Peak 1965M2, Trough 1967M5, Peak 1970M3, Trough 1971M12, Peak 1973M4, Trough 1975M6, Peak 1977M1, Trough 1978M4, Peak 1980M1, Trough 1982M12, Peak 1985M10, Trough 1988M3, Peak 1991M2, Trough 1993M6, Peak 1994M12, Trough 1996M2, Peak 1998M4, Trough 1999M3, Peak 2000M11, Trough 2003M8, Peak 2008M2