In May 2025

Confidence indicators in Trade and Services increased, while those in Manufacturing and Construction and Public Works declined

According to data collected by the Regional Directorate of Statistics of Madeira (DREM) through the Qualitative Business Surveys (QBS), it was observed that in May 2025, confidence indicators in the Manufacturing sector and Construction and Public Works declined compared with the previous month, whereas Trade and Services recorded an increase.

The confidence indicator for the Manufacturing sector decreased in May, following a rise in April. This decline was primarily driven by negative assessments regarding overall demand and production expectations. Conversely, evaluations of finished goods inventories contributed positively. The balance of expectations concerning selling prices decreased in May after having increased in the previous month.

In the Construction and Public Works sector, the confidence indicator also declined in May, following an increase in April. The recent development reflected the negative contribution of assessments related to the order book and employment expectations. Similarly, the balance of expectations for prices to be charged over the next three months declined in May, after having risen in April.

The confidence indicator for Trade increased in May, following a decrease in the previous month. This positive development was supported by favourable assessments across all components: expectations regarding business activity, sales volume, and stock levels. The balance of future price expectations, however, decreased in May, after two consecutive months of growth.

In the Services sector, the confidence indicator increased for the fourth consecutive month, reversing the downward trend observed over the preceding seven months. This improvement was mainly due to positive assessments concerning past developments in the order book and business activity. However, expectations regarding future demand evolution contributed negatively. The balance of expectations related to service prices declined in May, following an increase in April.

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