Wholesaling: pessimistic business expectations amidst excellent current business

In wholesaling, the business climate indicator fell in February. Nevertheless, more than a third of the surveyed participants were still satisfied with the current business situation and only a little less than 10% of wholesalers are dissatisfied. Business expectations, on balance, were again negative, with a slight improvement compared to January. Wholesalers were once again noticeably more satisfied with sales compared with the same month last year. According to official figures, sales stagnated in November. As in January, inventories were considered too high and ordering activity is likely to be cautious over the next three months. According to the Federal Statistical Office, wholesale prices developed negatively in December and January. Overall, the year 2018 closed with a slight plus of 0.23%. The survey also indicated that prices were raised significantly more often, but in the coming months fewer good pricing opportunities are expected. On balance, the number of employees is likely to rise in the coming three months. In November, employment in wholesaling rose by 1.3%.