Wholesale: Sceptical Expectations Increasing

The business climate indicator for wholesaling worsened considerably in August. In light of a decline in revenues, the survey participants were again less satisfied with their current situation. With regard to the business expectations, which had been predominantly optimistic, the sceptical voices now hold the balance slightly for the first time since October 2014. With inventory levels assessed more frequently as too large, order plans were revised downwards. However, firms still plan to increase the number of employees.