In April the overall ifo Business Climate index for Germany hit the lowest value ever during its history. Companies look into the future with extreme pessimism. As the drop has been so drastic, it will be interesting to see whether it continues in May.

In the ifo Index, Construction, Trade and Manufacturing are the sectors most related to plywood sales. From these three sectors, the change in Construction is a bit less dramatic. This is due to the longer reaction time of building projects. Another factor supporting Construction sentiment is the potential of public funding related to the Corona pandemic downturn.