Wholesaling: Optimism Wanes

After its sharp increase last month, the business climate in wholesaling continued to deteriorate. Assessments of the current business situation, and especially of business expectations, were downwardly revised. Sales prices increases were far less frequent in March than during the previous month. Many of the wholesalers surveyed nevertheless see scope for further price hikes in the months ahead. Although inventories rose slightly, more wholesalers are likely to increase their orders than to reduce them.