Assessments of the Current Situation Slightly Weaker, Expectations in the Manufacturing Sector Have Improved

The index of current assessments of the overall economy lost a little momentum in September (–1.3 points) and, at –1.5 points, remained below the zero line that separates positive from negative assessments. In the manufacturing sector, the situation index fell by 1.1 points and, at –6.0 points, remained in the sceptical range. In the construction sector, too, the current situation index fell (–2.6 points) but remained above the zero line at 2.3 points. In the services sector, the current situation index fell (–1.2 points) but remained just within positive territory at 0.4 points. The retail sector also saw a decline in the situation index (–2.1 points), which, at –1.1 points, fell back below the zero line.

The index of business expectations for the economy as a whole rose in September (+1.7 points), but remained at –1.3 points, just below the zero line that separates negative from positive economic expectations. In the retail sector, the expectations index fell (–1.9 points) and stood at –11.1 points, indicating sceptical economic expectations. In the services sector, the expectations index remained virtually unchanged (+0.1 points) and, at –1.8 points, stood just within the sceptical range, as in the previous month. In the construction sector, by contrast, the index showed a slight rise (+0.7 points), standing at 9.9 points, although expectations regarding construction activity in the coming months remained slightly below average despite the increase. In the manufacturing sector, the expectations index rose sharply in September (+5.6 points) and, at –1.0 points, stood only just within the range of sceptical economic expectations.