Economic Momentum Stabilises in Most Sectors, Declines in Gastronomy and Tourism

The index of current assessments for the economy as a whole fell by 0.3 points in September (excluding seasonal fluctuations), but remained noticeably positive at 20.2 points. Only in the service sectors did the index deteriorate (–1.9 points), but at 18.4 points it was still clearly above the zero line separating positive from negative economic assessments. In the construction industry the situation index rose (+2.2 points) and at 37.1 points was at an above-average level. The situation index in the manufacturing sector also gained momentum (+1.2 points) and at 21.9 points indicated good business activity in the manufacturing sector. In retailing, the index improved by 0.7 points to a level of 6.7 points.

The index of business expectations lost 0.6 points in September, but remained in optimistic territory at 14.2 points. This is mainly due to declines in the service sectors, where the index continued to lose momentum (–1.8 points), but remained above the zero line at 11.2 points. In the construction industry, on the other hand, the expectations index rose by 2.9 points and was clearly in the optimistic range at 41.8 points. In the manufacturing sector, the expectations index remained almost unchanged and continued to be in the optimistic range at 17.3 points. In retail trade, the expectations index improved (+0.4 points). Although it remained in negative territory at –8.2 points, it was at an average level for the retail sector from a long-term perspective.