In August 2024

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

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

The confidence indicator for the Manufacturing Industry increased in August, following two consecutive months of decline. This change was driven by positive contributions from opinions on overall demand evolution, production prospects and assessments related to finished goods stocks. The balance of expectations regarding selling prices decreased in August, after an increase in July.

In Construction and Public Works, the indicator decreased in August, following an increase in July. The decline reflected negative contributions from both components: assessments of order books and employment prospects. The balance of expectations regarding selling prices for the next three months increased in August, following declines in June and July.

In Trade, the confidence indicator has been rising from May to August, after a decrease in April. The positive evolution in May was due to contributions from business activity prospects, although assessments of stock volume and sales volume contributed negatively. The balance of opinions on future price developments increased in August, following a decrease in July.

In Services, the indicator decreased in July and August, reversing the upward trend that began in January. This decline was driven by negative contributions from components such as demand evolution prospects and opinions on the order book, with the former having the most significant impact. Assessments of business activity stabilised in August. The balance related to expectations for service price developments decreased in July and August, after an increase in June.

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