Economic Expectations Stable at a Low Level

The index of current situation assessments for the total economy fell by 2.3 points in March and remained below the zero line at –6.4 points. In the manufacturing sector, which is particularly important for the economy, the situation index rose slightly (+1.1 points), but at –20.0 points it remained well below the zero line that separates positive from negative situation assessments. In the construction industry, the situation index fell by 3.6 points and, at –4.5 points, was once again more clearly in negative territory. The situation index also fell significantly in the services sector (–3.6 points) and was again just in negative territory at –0.5 points. In the retail sector, the situation index also fell (–4.0 points) but was still just above the zero line at 1.7 points.

The index of business expectations for the total economy rose by 2.5 points in March, but at –7.1 points remained below the zero line that separates negative from positive economic expectations. In the retail sector, the expectations index lost 1.5 points and, at –13.7 points, remained in the area of sceptical economic expectations. In the services sector, on the other hand, the expectations index gained 2.1 points, but remained below the zero line at –3.1 points. There was a deterioration in the construction industry (–3.2 points). At –3.7 points, the expectations index was again more clearly below the zero line. In the manufacturing sector, the expectations index rose noticeably in March (+6.7 points), but at –12.2 points it remained in the sceptical economic expectations range: despite improvements, most of the production and business situation expectations remained in negative territory.