The Ifo Institute, officially known as the Ifo Institute for Economic Research, is a prominent economic research organization based in Munich, Germany. Founded in 1949, it focuses on providing empirical economic analysis and forecasts. The institute conducts various studies and surveys to assess economic conditions and trends, contributing valuable insights to policymakers, businesses, and the public. The Ifo Institute is well-known for its Ifo Business Climate Index, which gauges the economic sentiment of businesses in Germany. This index is widely regarded as a key indicator of economic performance and is used by economists and analysts to predict future economic activity.