Services Sector: Business Climate Indicator Edges Downwards

The Ifo Business Climate Indicator for the services sector (excluding trade, banking, leasing, insurance and the public sector) edged downwards in March. 1 While companies’ assessments of their current business situation remained virtually unchanged from last month, they were slightly less optimistic about their future business developments. Companies expect their revenues to develop less dynamically, although the +21.8 value remained more than satisfactory. Almost a third of test participants reported plans to increase their prices over the next three months.