Manufacturing: Lower business expectations

The business climate in manufacturing cooled further, the indicator remaining, however, above the long-term average. The surveyed companies were once again less satisfied with the current business situation, with balance points at their lowest level since the end of 2016. With a view to the coming months, skepticism regarding further business development increased. Only a few new impulses are expected from exports. There were frequent reports of a decline in demand, and satisfaction with order books declined accordingly. As inventory surpluses rose, production plans were adjusted downwards. New hirings are less frequently planned.