Services (Germany):
Business climate indicator falls

In the service sector the business climate indicator fell. However, for the first time in six consecutive months, the firms were a little more satisfied with their current business situation, although they did not manage to increase turnover as strongly as in previous months. Their optimism concerning the six-month outlook also weakened. Staff levels are slated to continue expanding but at a weaker pace. At the same time, many survey participants in the services have complained about difficulties in finding qualified staff. Firms in data processing and goods transport as well as architects, engineering offices and particularly temporary employment firms reported having difficulties in finding skilled employees.