Ifo Architects Survey: Increase only in Public Sector Contracts

According to the results of the quarterly survey of the Ifo Institute, the business climate of freelance architects worsened further at the beginning of the second quarter of 2009 and now stands at a two-year low. The architects assessed their current business situation more unfavourably than three months ago. Also with regard to the six-month business outlook, their confidence has again weakened. The moderate upward trend has come to an abrupt end after only three years. Private and commercial clients were even more reserved in awarding contracts to freelance architects than they were in the previous quarter. The extent of planning contracts in this segment fell strongly over the past six months, slipping to approximately the level of 2003 and 2004. Only public-sector clients added to their planning contracts.