In November 2025

Confidence indicators increased in Manufacturing and Trade, while stabilising in Construction and Public Works and declining in Services

According to information collected by the Regional Directorate of Statistics of Madeira (DREM) through the Qualitative Business Surveys (IQC), it is observed that, in November 2025, the confidence indicators in Manufacturing and in Trade rose compared with the previous month, while those in Construction and Public Works stabilised and those in Services decreased.

The confidence indicator for Manufacturing increased in November, following a decline in October. This development was driven by the positive contribution of all components: opinions regarding the evolution of overall demand, assessments of finished goods stocks, and production prospects. The balance of expectations concerning selling prices declined in November, after having increased in October.

In Construction and Public Works, the confidence indicator stabilised in November, after having increased in October. The evolution in the latest month reflected the positive contribution of employment prospects, while assessments of the order book contributed negatively. The balance of price expectations for the next three months fell in November, following an increase in October.

In Trade, the confidence indicator increased in November, after having declined between August and October. The development of the indicator in November resulted from the positive contribution of sales volumes and assessments concerning business activity prospects, while stock volumes contributed negatively. The balance of expectations regarding future price developments rose in both October and November, after having decreased in September.

In Services, the indicator declined for five consecutive months up to November, after having risen in the five preceding months. The evolution of the indicator resulted from the negative contribution of all components: opinions on the recent evolution of the order book, business activity, and expectations regarding future demand developments. The balance of expectations concerning service prices increased in October and November, after having fallen in the preceding five months.

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