In June 2024

Confidence indicators decreased in the Manufacturing Industry and in Construction and Public Works and increased in Trade and Services

According to information gathered by the Regional Directorate of Statistics of Madeira (DREM) through Qualitative Business Surveys (QBS), it is observed that in June 2024, the confidence indicators in the Manufacturing Industry and Construction and Public Works sectors decreased compared to the previous month, while they increased in Trade and in Services.

The confidence indicator in the Manufacturing Industry decreased in June after having increased in May. This improvement was due to the negative contribution from opinions regarding overall demand and production prospects, despite the positive assessments related to finished goods stocks. The balance of expectations regarding the evolution of sales prices decreased in June after increasing the previous month.

In Construction and Public Works, the indicator decreased in June after increasing in May. The improvement in the last month reflected the negative contribution from assessments on the order book, while employment prospects remained virtually unchanged. The balance of expectations regarding selling prices for the next three months decreased in June after increasing the previous month.

In Trade, the confidence indicator increased in May and June after decreasing in April. The improvement of the indicator in June resulted from the positive contribution from opinions on sales volume and business activity prospects, although assessments of the volume of stocks contributed negatively. The balance of expectations regarding future price developments decreased in May and June after increasing in April.

In Services, the indicator increased in June, continuing the upward trend that began in January. The improvement of the indicator resulted from the positive contribution from opinions on the order book and business activity, particularly pronounced in the former case, while prospects for demand evolution had a negative contribution. The balance of expectations regarding service prices increased in June after decreasing the previous month.

It is noteworthy that, except for Services, the other sectors highlight the difficulty in hiring qualified personnel as the main obstacle to their activity, a limiting factor more pronounced in the Manufacturing Industry and Construction and Public Works. Compared to the previous month, only in Services was there a slight alleviation of this obstacle, while it worsened in the other sectors.

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• In Focus (Portuguese only)

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