For consumption, too, the volume increase is slightly lower than in the preceding quarter. On the production side of the economy, the growth in output by the manufacturing and construction industries in particular were lower in the third quarter. Output growth rates are also slowing in trade, hotels and restaurants and the repair trade, although to a lesser extent. In the transport, postal services and communication sector, and in financial and business services, growth rates are stable and high. If seasonal effects are taken into account the fall increases to 10 points.
Consumers view the economic climate less favourably than last month.
Their expectations for the coming twelve months in particular have deteriorated. Although their opinions on the last twelve months are slightly more positive, if seasonal effects are taken into account they are more negative. Consumers are less willing to spend their money in January than last month, especially after seasonal adjustment. This is almost entirely caused by the fact that consumers do not think it is a good time to buy large items. Consumers' opinions about their own financial situation is stable.