Confidence in manufacturing and construction

In April the seasonally adjusted confidence indicator in manufacturing fell from 103.5 in March to 103.0. Assessments of order books remained unchanged, while production expectations worsened and inventories fell below normal levels. Differences emerged at sector and geographical level.

According to the quarterly questions, in the first quarter 2011 the rate of capacity utilisation rose to 72.9% compared to 72.0% in the previous quarter. The length of production assured by current order books increased at 3.3 months (3.0 in the previous quarter).

In March the seasonally adjusted confidence index in construction fell to 77.2 from 78.9 in February. Assessments of order books improved (from -55 to -53 the relative balance) while employment expectations worsened (the balance declined from -12 to -18).

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