The expansive cyclical development for our region that started in April 2013 continues to push on in an unabated manner. In the course of the first half of the year, the indicator level increased from nearly 75 points in January to 89 points in July. This development is in strong alignment with the trends that were forecasted in the previous month.
An increase of 21 indicator points for the past year can be considered as having been virtually achieved. For the time being, all indications are that the economic activity will certainly continue to develop with the same intensity with which it started in the spring of 2013 until the beginning of summer. Based upon the current data, there is no need to fear downsizing scenarios such as those that we experienced in 2012 and even less those of 2011.
The upward cyclical development is mainly driven by the export and construction sectors. The diamond sector and port activities have shown clear signs of recovery and possibilities for further improvements are clearly recognisable. While the performance of the automotive industry remains disappointing, the labour market is evolving in a positive manner completely in line with the expansive business cycle.
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