Services (Germany):
Cloudier business outlook

In the service sector the decline in the business climate that has occurred since the high point reached in April continued in October after a brief interruption in the previous month. Although the firms appraised their current situation more positively than in September, their confidence in the business outlook declined noticeably. Turnover was again higher than the previous-year level and for the coming months further expansion is expected. Staff levels will increase but the hiring propensity has weakened somewhat.