The CFS Financial Center Index is to be established in the upcoming years 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 established indicators such as ifo business climate or ZEW- business expectations do not cover this economic branch.
Validating the forecast characteristics of the CFS Financial Center Index requires the survey of time series data of the index values for a longer period. Therefore, reliable outlooks based on the alteration of the index values will only be possible in a few years.