Survey on Industry, Services and Construction 2022Feb
Published on 13 March 2022
Industry, market services and construction
Industry
- In February, industrial activity increased overall, and particularly in wearing apparel, textiles and footwear, wood, paper and printing, and electrical equipment manufacturing. The other industrial sectors showed more modest improvement, with the exception of the automotive industries, which fell back slightly.
According to business leaders, raw material prices continued to rise at a brisk pace. The balance of opinion on finished goods price developments was a little down on its January level, but was still very high.
The opinion on the cash position remained above its long-term average. Order books remained strong.
Business leaders expect activity to increase more modestly in March, but this expectation is subject to considerable uncertainty, as the survey was conducted at the outbreak of war in Ukraine.
Opinion on the outlook for industrial production*
Balance of opinions, SA-WDA![]()
Balance of opinions, SA-WDA
Market Services
In market services, activity improved in most sectors in February. Growth was particularly robust in personal services (accommodation and food services, rental activities), which had dropped off in January in line with the public health situation. Business services also improved.
Business leaders reported a moderate rise in prices, notably in the transport services sector.
Staff levels continued to grow at a sustained pace, particularly in business services.
The growth in activity is expected to continue in March, but at a more moderate pace.
Opinion on the outlook for services activity*
Balance of opinions, SA-WDA![]()
Balance of opinions, SA-WDA
Construction
- Construction sector activity was up in February, essentially in finishing works.
Order books remained robust, and above their long-term average. Business leaders reported an increase in quote prices.
Business leaders expect a slight decline in activity in March.
Opinion on the outlook for construction activity*
Balance of opinions, SA-WDA![]()
Balance of opinions, SA-WDA
* A positive (negative) balance of opinions corresponds to a rise (fall) in the evolution of activity. Balances of opinions may range from -200 to +200.
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Updated on 9 March 2022