Chart: SAFE Sentiment Manager Index; created with Datawrapper

Photo of and quote by Florian Heider (of 10 December 2025): The third quarter was significantly better than the chaotic second quarter that was characterized by geopolitical uncertainty. This improvement is reflected in the SAFE Index."

The SAFE Manager Sentiment Index turns positive, reaching +0.23 in December. The tone in financial reports improved from –1.38 to –1.07, earnings calls from +0.90 to +1.43. Strong Q3 results boosted optimism.

👉Read more: safe-frankfurt.de/news-latest/... #EconSky #SAFEIndex

Quote by Alexander Hillert, Professor of Data Science and Finance at SAFE: “The strong performance of the first quarter has clearly given way to a weaker picture. Due to the trade agreements, managers can work with clearer rules, yet the tariffs’ negative impact is undisputable.”

The SAFE Manager Sentiment Index is at -0.32 in September.

📉 SAFE Manager Sentiment Index falls to -0.32 in September.

Tariffs weigh on earnings, clarity from trade agreements helps: "Managers can work with clearer rules, yet the tariffs’ negative impact is undisputable," says Prof. Alexander Hillert.

👉 More: safe-frankfurt.de/news-latest/... #SAFEIndex

Index curve over time, x axis describes the year, y-axis the value. The Index for August is at -0.19.

Quote by Florian Heider: "No one wants to go out on a limb at the moment. There are still risks surrounding the EU's tariff agreement with the US. Many details remain uncertain.”

SAFE Manager Sentiment Index drops from -0.17 to -0.19 in August, staying neutral through high uncertainty and signs of cautious optimism.

“No one wants to go out on a limb" notes @fheider.bsky.social.

👉 Full analysis: safe-frankfurt.de/news-latest/...

#SAFEIndex #EconomicOutlook #EconSky

Photo of and quote by Florian Heider from 9 July 2025: "Since March, we have been observing through the SAFE Index that the managers' language is becoming more pessimistic. For listed companies in Germany, the situation is simply more uncertain than before - this uncertainty is here to stay."

The graph shows the SAFE Index. The x-axis shows the years, the y-axis the value. In July 2025 it is at -0.17.

SAFE Manager Sentiment Index drops to -0.17 in July as executives grow more cautious. "Uncertainty is here to stay," says @fheider.bsky.social. Firms fear indirect effects like weak demand & consumer sentiment.

👉Read more: safe-frankfurt.de/news-latest/... #SAFEIndex #EconomicOutlook #EconSky

Quote by Florian Heider: "Such a strong increase in the index value shows that 2024 was a good year for many companies. Managers expect the positive trend to continue."

Curve of the SAFE Index; in March 2025 at a value of 1.09.

📈 Optimism among DAX companies is rising: The SAFE Manager Sentiment Index jumps from -0.01 to +1.09.

“Such a strong increase shows that 2024 was a good year. Managers expect the positive trend to continue,” says @fheider.bsky.social.

👉 safe-frankfurt.de/news-latest/... #EconSky #SAFEIndex

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