Ifo Business Survey shows no end to employment declines in manufacturing

According to the information of from the participating firms of the Ifo Business Survey, the personnel plans of manufacturing firms reveal a clear slowdown of employment declines in manufacturing in 2004. This development fuels hopes that the drops in employment will soon come to a standstill. However, since December the survey results have again become more pessimistic and disappoint the hopes that an end in employment reduction would occur in the first half of 2005.