Services (Germany):
Stable business climate

In the service sector the business climate changed little in September. The present situation was assessed by the survey participants somewhat more unfavourably than in August. With regard to the six-month outlook scepticism has weakened somewhat, however. Previously, the expectations worsened for five months running. The survey participants are more dissatisfied with their order stocks, and again more caution will be exercised when it comes to hiring more staff. In the area of transport and logistics the business situation was assessed as less favourable. The order reserves were assessed more negatively than in the previous month and there are no plans to hire additional personnel. Firms in telecommunications appraised their business situation as somewhat less positive but as still good in most of the firms. They also expect demand to grow in the coming months and plan to take on more personnel. EDP service providers also intend to keep hiring, though with more caution than before. The complaints of difficulties in recruiting skilled personnel are as strong as ever. Business expectations continue to be upbeat, but a smaller portion of surveyed firms expect better business than a year ago.