Confidence in manufacturing and construction

In July the seasonally adjusted confidence indicator in manufacturing fell from 100.5 in June to 98.5. Assessments on order books and production expectations worsened, while inventories remain unchanged. Differences emerged at sector and geographical level.

According to the quarterly questions, in the second quarter 2011 the rate of capacity utilisation fell to 71.6 % compared to 72.8 % in the previous quarter. The length of production assured by current order books worsened at 3.2 months (3.3 in the previous quarter).

In June the seasonally adjusted confidence index in construction fell to 74.4 from 80.5 in May. Both assessments of order books and employment expectations worsened (the balances declined from -49 to -54 and from -16 to -22, respectively).