Manufacturers optimistic

Manufacturers remained optimistic in February. Producer confidence in the manufacturing industry is 8.5. This is indeed 1.0 point below the level of January, but January’s mood indicator was unprecedentedly high. The manufacturers are very optimistic now for more than one and a half year.

Producer confidence consists of three component indicators: anticipated output in the next three months, and producers’ opinions on their stocks of finished products and on their order books. With respect to expected output and their order books, manufacturers were slightly less optimistic in February than the month before. Manufacturers’ opinions on their stocks of finished products were more positive

The number of manufacturers reporting an increase in orders received outnumbered those who anticipate a reduction. This applies to the domestic as well as the foreign market. The order position index (orders received expressed in months of work) improved to 115.5.

Manufacturers remained optimistic about employment. In February, the number of manufacturers expecting to have to recruit new staff again outnumbered those expecting to have to cut back. This has been the case for over a year now. Companies also foresee higher selling prices in the next three months.

Producer confidence in manufacturing industry