Managers in various sectors expect moderate increases in output and employment, but also higher prices over the next three months

In May 2025, managers in manufacturing expect moderate growth in output (+9%) and stable employment (-4%). In construction, output (+23%) and employment (+7%) are expected to increase significantly, while construction prices are expected to rise by 39%. In retail trade, activity is expected to remain stable (+1%), with a moderate increase in employment (+14%) and a sharp rise in prices (+44%). In services, demand (+6%) and prices (+24%) are expected to increase moderately, while employment is expected to remain stable (+2%).