Manufacturing: Current Business Situation Remains Very Good

The business climate in manufacturing edged down from the record high reached in March. Thanks to a dynamic devel-opment in demand, the companies surveyed were more satisfied with their current business situation for the fifth month in succession. In terms of future business developments, however, confidence waned, even if export expectations were similarly favourable to last month. Despite lower pressure due to inventories, expansive production plans were scaled back somewhat. At 86% capacity utilisation was 1.5 percentage points higher than the figure for the same period last year.