Services (Germany):
Slight rise in business climate indicator

In the service sector enterprises reported a more favourable current business situation. Leasers of mobile equipment, which includes vehicles, machines and equipment, assessed their situation considerably more positively. Also the data processing service providers are more satisfied with their current situation than in April. There were also service areas, however, in which the business situation was assessed with clearly more reserve. This includes freight shipping and transport firms. They have not only been particularly strongly affected by the oil price increases, they also reported that turnover and demand for their services has hardly grown, which has made them more dissatisfied with their order stocks. In addition they do not expect any improvement of their business situation in the next six months. On average for all the surveyed services, the outlook for the coming half year was evaluated somewhat less confidently than in the previous month. The business climate indicator - comprising the components of assessments of the current situation and business expectations - improved slightly as a result of better assessments of the business situation.