Economic Assessments Show Mixed Development

The index of current business situation assessments declined in March (–3.0 points) but remained positive at 7.9 points. In manufacturing, which is particularly sensitive to the economic situation, the situation index lost 2.7 points compared to the previous month and was only just above the zero line at 0.8 points. In the construction industry the situation index lost 4.4 points but was still in positive territory at 11.1 points. In the service sectors the index lost 3.4 points compared to the previous month, but with a value of 12.3 points it still signals robust economic assessments. In the retail trade sector, the situation index lost 0.7 points and was just in positive territory at 2.1 points, as in the previous month.

The index of business expectations for the economy as a whole rose by 1.9 points in March and at 2.1 points was again above the zero line that separates negative from positive economic expectations. In the retail trade sector, the expectations index rose by 1.6 points, but remained deep in sceptical territory at –16.9 points. In the service sectors, the expectations index gained 4.1 points and was again more noticeably in positive territory at 6.0 points. In the construction industry, the expectations index fell by 5.6 points, but remained in positive territory at 17.7 points. This high value is largely due to the continued above-average construction price expectations. Production expectations in the construction industry were in negative territory. In manufacturing, the expectations index showed a slight recovery (+0.8 points). However, the index remained in the sceptical range at –3.4 points.