Services (Germany):
Slightly worsened business climate

The business climate indicator for the service sector in Germany fell slightly in August. The favourable business situation remained unchanged, but optimism regarding the business outlook has weakened somewhat. In the individual service industries, quite differing developments were reported, partly due to seasonal effects. On average, a clear improvement in turnover was again reported and the number of employees increased. Nevertheless, firms were not completely satisfied with their order situation. In their opinion, however, demand is set to increase in the near future and the propensity to hire additional staff is evident. Prices are also likely to increase.