In March 2025,

Confidence indicators increased in Trade and Services, stabilised in Construction and Public Works, and declined in Manufacturing Industry

According to data collected by the Regional Directorate of Statistics of Madeira (DREM) through the Qualitative Business Surveys (QBS), in March 2025, confidence indicators increased in Trade and Services compared to the previous month, stabilised in Construction and Public Works, and decreased in Manufacturing Industry.

The confidence indicator for Manufacturing Industry declined in both February and March, following an increase in January. This development was driven by the negative contributions of opinions regarding overall demand, assessments of finished goods inventories, and production expectations. The balance of expectations concerning selling prices decreased in March after having increased in February.

In Construction and Public Works, the indicator stabilised in March following a decline in February. The most recent development reflected a negative contribution from assessments of the order book, while employment prospects contributed positively. The balance of price developments for the next three months declined in both February and March, after having increased over the previous three months.

In the Trade sector, the confidence indicator increased consecutively from January to March, following a decline in December. The March increase was mainly due to the positive contribution of expectations regarding the assessments of business activity prospects, while both the volume of sales and inventory levels contributed negatively. The balance of expectations regarding future price developments increased in March, after declining in February.

In Services, the indicator rose in both February and March, reversing the downward trend observed over the previous seven months. This improvement was driven by positive assessments of the recent evolution of the order book, expectations regarding demand, and evaluations of business activity prospects. The balance of expectations for service prices declined in February and stabilised in March, following an upward trend between November and January.

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