Economic Sentiment Remains Subdued

The index of current situation assessments for the overall economy lost 1.3 points in October and remained in negative territory at –8.7 points. In the manufacturing sector, which is particularly important for the economy, the situation index rose slightly (+1.5 points), but at –20.9 points was still noticeably below the zero line that separates positive from negative situation assessments. In the construction industry, the situation index also rose (+1.6 points) and, at –1.5 points, was only just in the sceptical range. In the services sector, on the other hand, the situation index fell significantly (–4.0 points) and was once again more clearly in negative territory at –5.2 points. In the retail sector, the situation index lost 0.3 points and remained just below the zero line at –0.9 points.

The index of business expectations for the overall economy hardly changed in October (–0.2 points) and, at –5.3 points, remained below the zero line that separates negative from positive economic expectations. In the retail sector, the expectations index lost ground again (–5.5 points) and, at –22.2 points, was quoted in the area of sceptical economic expectations. In the services sector, the expectations index lost 1.7 points and was only just above the zero line at 0.7 points. In the construction industry, however, there was a further slight improvement (+1.3 points). At –0.6 points, the expectations index was close to the zero line. In manufacturing, the expectations index improved noticeably in October (+4.1 points), although at –12.6 points the index remained in the sceptical economic expectations range.