In February 2026

Confidence indicators in Manufacturing and Services increased, whilst in Trade and in Construction and Public Works, they decreased

According to information collected by the Regional Directorate of Statistics of Madeira (DREM) through the Qualitative Business Surveys (IQC), in February 2026, the confidence indicators in Manufacturing and Services increased compared to the previous month, whilst in Trade and in Construction and Public Works there was a decrease.

The confidence indicator for Manufacturing increased in February, after having decreased in January and December. The change in the indicator was due to the positive contribution of assessments relating to product stocks and production expectations, whilst opinions on the evolution of overall demand contributed negatively. The balance of expectations regarding selling prices decreased in January and February, after having increased in December.

In Construction and Public Works, the indicator decreased in January and February, after having increased in December. The change in the last month reflected the negative contribution of both components: assessments of the order book and employment prospects. The balance of expectations regarding prices charged by the enterprise over the next three months decreased in February, after having increased in December and January. Among the main limiting factors to activity indicated by enterprises in the sector, difficulty in recruiting qualified staff stands out as one of the main obstacles to activity, a situation that worsened between December and February, after having eased in November.

The confidence indicator for Trade decreased in February, after having increased in January. The change in the indicator in February resulted from the negative contribution of sales volume, whilst assessments of the enterprise's activity expectations and stock volume contributed positively. The balance of future price change expectations decreased in February, after having increased between October and January.

In Services, the indicator increased in January and February, after having decreased consecutively throughout the 2^nd half of 2025. The change in the indicator resulted from the positive contribution of opinions on the past evolution of the order book and expectations regarding the future evolution of demand, whilst assessments of enterprise activity contributed negatively. The balance relating to service price expectations increased between October and February, after having declined in the five preceding months.

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