Services (Germany):
Less sceptical expectations
ifo Institut für Wirtschaftsforschung, München, 2009
in: ifo Konjunkturperspektiven, 2009, 36, Nr. 01, 31-33
The business climate in the German service sector brightened somewhat in January. Although the firms evaluated their current business situation more unfavourably than in the previous month, their expectations for the coming half year are no longer as negative as they were in December. The service providers are more dissatisfied with their present order stocks and continue to plan to reduce staff levels. In goods transport the business climate improved somewhat though remaining in cloudy territory. Demand is assessed as considerably weaker in comparison to January 2008 and order stocks are considered to be inadequate. Also forwarding agencies have complained about a strong decline in demand. EDP service providers continue to report a mainly good business situation. Although these companies also anticipate weaker business on the whole, they still plan to increase personnel. A completely different employment situation was reported by personnel placement and worker posting. Here personnel levels have already been considerably reduced, a trend that will continue according the personnel plans.