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Business Survey in Focus: Rubber and Plastic Goods Manufacturing

Author

Listed:
  • Evgenia Kudymowa
  • Klaus Wohlrabe

Abstract

Since as early as 1949 the Ifo Business Survey for manufacturing, which polls a large number of company representatives from a wide range of product groups on their current business situation and six-month business outlook, has been conducted on a monthly basis. These qualitative survey data have proven a useful early indicator of the real economic development of individual economic segments. If the forecasting accuracy of the survey results for the “rubber and plastic goods manufacturing” segment is examined, using a correlation analysis of the Ifo Institute’s survey data and the Federal Statistics Office data on annual growth rates of production and turnover indices as a reference series, it emerges that the corresponding Ifo survey data predict annual rates of change very accurately. In other words, a glance at the survey results reveals the current stage in the business cycle that the segment has reached.

Suggested Citation

  • Evgenia Kudymowa & Klaus Wohlrabe, 2014. "Business Survey in Focus: Rubber and Plastic Goods Manufacturing," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 67(07), pages 23-26, April.
    • Handle: RePEc:ces:ifosdt:v:67:y:2014:i:07:p:23-26
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    File URL: https://www.ifo.de/DocDL/ifosd_2014_07_4.pdf
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    Citations

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    Cited by:

    1. Simon Litsche & Przemyslaw Wojciechowski, 2016. "Business Survey Spotlight: Mechanical Engineering," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 69(05), pages 33-37, March.
    2. Przemyslaw Wojciechowski, 2015. "Business Survey in Focus: Information and Communication," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 68(07), pages 57-60, April.
    3. Przemyslaw Wojciechowski, 2015. "Business Survey in Focus: Hotel and Catering Industry," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 68(18), pages 62-66, September.
    4. Robert Lehmann, 2023. "The Forecasting Power of the ifo Business Survey," Journal of Business Cycle Research, Springer;Centre for International Research on Economic Tendency Surveys (CIRET), vol. 19(1), pages 43-94, March.

    More about this item

    JEL classification:

    • L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology; Plastics
    • L69 - Industrial Organization - - Industry Studies: Manufacturing - - - Other

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