Economic Assessments Improve Slightly

The index of current assessments of the overall economy rose by 1.4 points to –2.2 points in October, but remained below the zero line that separates positive from negative assessments. In manufacturing, the situation index increased slightly (+1.2 points), but remained well below the zero line at –11.6 points. In the construction industry, the situation index rose by 2.3 points to 4.2 points, returning to a level well above zero. The situation index also rose in the service sectors (+2.0 points), returning to positive territory at 0.9 points. In the retail sector, the situation index deteriorated (–2.0 points), but remained in positive territory at 1.4 points.

The index of business expectations for the economy as a whole also increased in October (+1.2 points) and remained just below the zero line that separates negative from positive economic expectations at –0.5 points. In the retail sector, the expectations index rose slightly (+1.0 points) and remained in the sceptical economic expectations range at –10.6 points. In the service sectors, the expectations index declined slightly (–0.3 points) but remained just in positive territory at 1.6 points. The construction industry showed an improvement (+1.9 points) and the expectations index stood at 4.4 points above the zero line. The expectations index also rose in October in the manufacturing sector (+3.5 points), but remained in the sceptical economic expectations range at –2.2 points.