Service Sector: Current Business Situation More Positive Than Ever

Survey participants in the service sector assessed their current business situation more favourably for the third consecutive month. One in two service providers assessed their business situation as good on balance, with the indicator breaking January's record. At the same time, service providers were no longer as optimistic about developments over the next six months. The business climate indicator continued to decline as a result, but still remains clearly positive. Turnover rose, according to the survey results, and on a slightly greater scale than last year. Developments in staff numbers were positive as a result. Assessments of the order back log reached their most positive level since the launch of the service sector survey in 2005. Since firms expect demand to pick up in the months ahead, they are planning to recruit additional staff. The corresponding time series shows a positive trend for the past five years. Service providers also reported plans to implement price increases in the months ahead.