In July

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

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

The confidence indicator for the Manufacturing sector declined in June and July, after an increase in May. This change was due to negative contributions from opinions on overall demand and production prospects, although there was a positive assessment related to finished goods stocks. The balance of expectations regarding selling prices increased in July, after decreasing in June.

In Construction and Public Works, the indicator increased in July, following a decrease in June. The recent improvement reflected positive contributions from both components: assessments of order books and employment prospects. The balance of expectations regarding selling prices for the next three months decreased in June and July, after an increase in May.

In Trade, the confidence indicator rose between May and July, following a decrease in April. The increase in July was driven by positive opinions on sales volume and stock levels, although business activity prospects had a negative impact. The balance of future price developments decreased between May and July, after increasing in April.

In Services, the indicator decreased in July, reversing the upward trend that began in January. The decrease was driven by negative contributions from all components, including prospects for demand evolution, assessments of business activity, and opinions on order book evolution, with the most significant impact from the first factor. The balance of expectations for service prices decreased in July, after increasing the previous month.

Notably, with the exception of Trade and Services, other sectors highlight the difficulty in hiring qualified personnel as the main obstacle to their activity, a limiting factor most pronounced in Manufacturing Industry and Construction and Public Works.

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