Wholesaling: Business Climate Cools Marginally

The business climate indicator in wholesaling edged downwards in February, after two months of successive improvements. This was due to somewhat less favourable assessments of the current business situation. However, the wholesalers surveyed expressed slightly more confidence in future developments than last month. Companies expect sales prices to rise and are continuing to pursue an expansive ordering policy. The personnel plans reported, by contrast, point to a slight reduction in staff numbers on balance.