Manufacturing (east):
Confidence still depressed

In east Germany, the negative appraisals of the business situation are even more pronounced than in September; the last such unfavourable assessment was five years ago. Scepticism regarding the business outlook has weakened somewhat, however, especially in the basic materials area. Order reserves have also deteriorated in east Germany so that further production cut-backs are planned here too. In both parts of Germany, the firms expect to reduce personnel; producer prices are likely to decline.