Economic outlook remains gloomy

The Barometer stands at 96.9 points in June, 0.8 points lower than in May (revised from 96.8 to 97.7 points). The downward movement of the barometer is primarily driven by bundles of indicators for foreign demand and manufacturing. Only indicators for the financial and insurance services sector and for the construction sector are at a nearly constant level. However, indicator bundles for private consumption show a slight positive trend.

In the goods producing sector (manufacturing and construction), almost all indicator bundles contribute to the negative development. The strongest contribution comes from indicators assessing the employment situation and those assessing the situation regarding intermediate products.

Within manufacturing, indicators for the wood and paper products sector and for the food and beverages sector contribute most negatively. By contrast, the chemical and pharmaceutical industries are sending a slightly positive signal. Indicators for the paper and printing sector and for the electrical industry are at almost the same level compared to the previous month.