28 August 2009
2009- n° 224In 2009, according to business managers, investment would drop of 23% in manufacturing
industry Industrial investment survey - July 2009
Surveyed in July 2009, business managers emphasized their previous forecast of drop in the investment for 2009, which were delivered in April 2009. They now anticipate a reduction in their equipment expenditures of 23% in manufacturing industry and of 21% in the industry as a whole (against 21% and 18% respectively in April). This downwards revision is dued to equipement goods and intermediate goods industries whose business leaders’ expectations are repectively lower of 9 and 3 points. Only in automotive industry, expectations were higher (+ 6 points).
Surveyed in July 2009, business managers emphasized their previous forecast of drop in the investment for 2009, which were delivered in April 2009. They now anticipate a reduction in their equipment expenditures of 23% in manufacturing industry and of 21% in the industry as a whole (against 21% and 18% respectively in April). This downwards revision is dued to equipement goods and intermediate goods industries whose business leaders’ expectations are repectively lower of 9 and 3 points. Only in automotive industry, expectations were higher (+ 6 points).
In 2008, investment were unstressed
Concerning 2008, business managers indicated that investment in value term increase slightly of 1%. Investment had been sustained by the equipment expenditures in equipment goods (+3%) and intermediate-goods industries (+1%).
tableauTableau 2 – Real annual investment growth
2008 | 2009 | |||
---|---|---|---|---|
observed Apr. 09 | observed Jul. 09 | forecast Apr. 09 | forecast Jul. 09 | |
Agricultutral and food industry | 4 | 6 | -14 | -15 |
Manufacturing industry | 0 | 1 | -21 | -23 |
Consumer goods industry | 0 | -1 | -10 | -10 |
Automotive industry | -1 | 0 | -24 | -18 |
Equipment goods industry | -2 | 3 | 0 | -9 |
Intermediate goods industry | 0 | 1 | -30 | -33 |
All industry | 0 | 1 | -18 | -21 |
- How to read this table : In food industry, firms surveyed in July 2009 reported nominal investment growth of 6% in 2008 comparing to 2007 and forecast a decrease of 15% in 2009 comparing to 2008.
graphiqueGraph1_ang – Annual nominal change in investment in manufacturing industry
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Time series : Industry – Investment