Services (Germany):
Waning optimism

The current business situation in the service industry (except retail and wholesale trade, banking, leasing, insurance, and government) was again assessed more positively than in August. As the optimism in expectations for the next six months has waned, the climate indicator declined marginally. Sales exceeded once more those of the same month a year ago, and for the coming months, too, the firms expect a further pick-up of demand. The increase in employment has slowed down a bit. According to the panel, this trend will continue in the near future. The responses indicate a further rise in sales prices.