In March 2026

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

According to the information collected by the Regional Directorate of Statistics of Madeira (DREM) through the Qualitative Business Surveys (IQC), in March 2026, confidence indicators in Manufacturing and Trade decreased compared to the previous month, while in Services and Construction and Public Works, an increase was observed.

The confidence indicator for Manufacturing decreased in March, after having increased in February. This evolution resulted from the negative contribution of all components: assessments of stocks of finished products, production expectations and opinions on the evolution of overall demand. The balance of expectations regarding selling prices decreased in the last three months, after having increased in December.

In Construction and Public Works, the confidence indicator increased in March, after having decreased in January and February. The evolution in the last month reflected the positive contribution of both components: assessments of the order books and employment expectations. Among the main factors limiting activity reported by enterprises, the shortage of qualified labour remained one of the main constraints, although this situation eased in March, after having worsened between December and February.

The confidence indicator for Trade decreased in February and March, after having increased in January. The evolution in March resulted from the negative contribution of assessments regarding the enterprise’s activity prospects and the volume of stocks, while sales volume contributed positively. The balance of expectations for future price developments increased in March, after having decreased in February.

In Services, the indicator increased consecutively over the last three months, following consecutive decreases throughout the second half of 2025. This evolution resulted from the positive contribution of opinions on the past evolution of the order books, expectations regarding future demand and assessments of the enterprise’s activity. The balance relating to expectations for service prices increased between October and March, after having declined in the previous five months.

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