In the ifo Konjunkturperspektiven, the Institute publishes the results of the most recent Ifo Business Survey in Germany in all details with texts and graphics.
Current Ifo Business Climate Index: www.ifo-business-climate-index.info
To help non-German speakers to stay informed on the survey results of the Ifo Institute, we present a short overview of the contents of the Ifo periodical ifo Konjunkturperspektiven.
In manufacturing (including food and beverages) the business climate index rose again for the seventh time in succession. The surveyed firms gave more favourable assessments of their current business situation than in the previous month. With regard to the outlook for the coming six months they remain optimistic, but stimulus from exports is anticipated less frequently. As a result of lively demand, production has been expanded, though not as markedly as in past surveys. Production plans, however, remain expansive. There are hardly any signs of staff reductions.
According to the results of the Ifo Business Survey, the business climate in construction has grown cloudier. The surveyed contractors gave less favourable assessments of their business situation over the previous month. The six-month business outlook was assessed clearly less optimistically than in July. The equipment utilisation rate stagnated at 70%, seasonally and weather adjusted, and was 3 percentage points higher than a year ago. On average for all construction sectors, order reserves at 2.4 production months, seasonally and weather adjusted, were just as large as in July and in August 2009.Some 30% of the surveyed firms are dissatisfied with their order situation, and just as many reported constraints in construction activity. One in five firms complained about a lack of orders, and only in isolated cases were the constraints caused by weather conditions or lack of personnel. For the coming months, firms anticipate further increases in prices. Personnel levels are set to rise slightly in the coming months.
DThe business climate in wholesaling worsened slightly in August after having improved sharply in July. The firms no longer assessed their current business situation quite so positively as in July and they are somewhat less confident regarding the six-month business outlook. In light of continuingly lively demand and the favourable outlook, they are planning to place more orders, in comparison to 12 months ago, in the coming months. Their plans also call for an increase in employment levels. Their prices will increase according to the company expectations.
In retailing the business climate clearly improved again in August. The surveyed retailers are very satisfied with their current business situation and report an improved turnover in comparison to August 2009. For the coming months the firms anticipate further lively business activity, but because of increased inventory pressure they plan to order fewer goods than in July. According to the survey participants, their prices will trend upwards somewhat in the coming months.
The business climate indicator for the service sector (without distribution, banking, leasing, insurance or government) rose further in August. The surveyed service providers reported an improved business situation vis-à-vis July, and more now anticipate a positive development in the coming six months. The firms reported a higher turnover in comparison to August 2009 and also anticipate increased sales in the coming months. The employment outlook in retailing remains positive.
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