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Economic Assessments Remain Below Average
The index of current situation assessments for the total economy lost 0.2 points in August and was in negative territory at –9.5 points. In manufacturing, which is particularly important for the economy, the situation index lost 0.2 points and, at –22.2 points, remained well below the zero line that separates positive from negative situation assessments. In the construction industry, the situation index rose slightly (+0.6 points), but remained in negative territory at –5.1 points. In the services sector, the situation index remained almost unchanged (+0.1 points) and was in negative territory at –4.3 points. In the retail sector, the situation index deteriorated (–4.3 points) and was back below the zero line at –4.4 points.
The index of business expectations for the total economy improved slightly by 0.6 points in August, but at –6.1 points remained below the zero line that separates negative from positive economic expectations. In the retail sector, the expectations index rose slightly (+1.0 points), but at –19.1 points remained well within the range of sceptical economic expectations. In the services sector, the expectations index rose by 3.2 points and, at –0.8 points, was once again closer to the zero line. There was a slight improvement in expectations in the construction industry (+0.4 points). However, at –3.2 points, the index remained below the zero line. In manufacturing, on the other hand, the expectations index deteriorated again in August (–4.1 points). At –15.6 points, the index remained in the area of sceptical economic expectations.