The spring estimates on investments by manufacturers indicate that they expect substantially larger investments for 2008. They estimate the value of investments at more than 9 billion euro in 2008, an 11 percent increase on 2007. The manufacturers reported a 14 percent increase in their investments in capital goods for 2007compared to 2006.
Manufacturers were far more optimistic in the spring of 2008 than in the autumn of 2007, when they expected investment growth in 2008 to slow down to 4 percent. It is not unusual for companies to adjust their expectations in the course of time, as they gain more insight into delays, postponements or acceleration of expected investment projects.
For 2008, all sectors in manufacturing are optimistic about investments, with the exception of the oil refining industry. Entrepreneurs in this sector expect a 32 percent drop in investments. Last year, investment growth in the oil refining industry was topping the list: the value of investments being nearly twice as high as in 2006. Manufacturers in the chemical industry are expecting the most substantial increase in 2008. They foresee a 42 percent growth relative to 2007. Prior to this jump, their investments plummeted 26 percent. Year on year investment growth can vary strongly in both sectors of industry.
Investments by manufacturing companies (2008 based on expectations)