According to the October update to the CEMA Business Climate Index, the index's development has continued its sideways movement after the declines in the course of the war in Ukraine. Current business sentiments have remained stable, while the share of survey participants with growth expectations has decreased slightly. The index reads 12 as of October.

"Price increases and bottlenecks on the supplier side continue to challenge the industry, however some slight easing is observable. Currently, 28% of the companies are planning a temporarily production stop due to shortages in the coming four weeks," the report stated.

"The regional breakdown on the market side indicates that the German market is losing some momentum, but the confidence level for the French market remains strong, in addition, in some markets such as Scandinavia and Switzerland even an upward trend can be observed. Moreover, current dealer stocks of both new and used machinery remain very low across Europe and may still be below optimal levels in most markets."

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