The CFS Index, compiled from a comprehensive quarterly survey of leading executives in the German financial sector, aims to reflect the prevailing market sentiment on the most important issues and risks facing the sector as well as near-term prospects.

The CFS Index has been calculated since the beginning of 2007. In the first phase, it focused on companies and institutions from the Frankfurt/Rhine-Main region. Since the end of 2007 the German financial sector as a whole has been covered. The survey-panel consists of enterprises and institutions of the financial sector ("Financial Institutions") as well as selected companies that profit from the financial sector ("Service Providers").

  • Financial Institutions
    e.g. banks, insurance companies, asset managers

  • Service Providers
    - companies that are closely linked to the financial industry but also work for other branches as for example law firms, advisory companies or news agencies.
    - supervisory bodies and regulators such as Deutsche Bundesbank and the Federal Financial Supervisory Authority (BaFin)
    - lobby groups and academic institutions that have an expert knowledge about the financial industry
    - companies that profit from financial centers like Frankfurt or Munich such as airlines, hotels, luxury car leasing companies or catering firms.

Details about Index Calculation

Future Prospects

The CFS aims to establish the CFS Index as an early indicator for the economic development of the financial sector in Germany. Although the financial sector is very important for the economic development in Germany as a whole, other indicators such as the ifo business climate or the ZEW business expectations do not cover this economic branch.