In May 2024

Confidence Indicators increased in Manufacturing Industry, Construction and Public Works, Trade, and Services

According to information collected by the Regional Directorate of Statistics of Madeira (DREM) through the Qualitative Business Surveys (QBS), it was observed that in May 2024, the confidence indicators in the four sectors covered by the QBS (Manufacturing Industry, Construction and Public Works, Trade, and Services) increased compared to the previous month.

The confidence indicator for Manufacturing increased in May after a decrease in April. This improvement was attributed to the positive contributions of opinions regarding overall demand and production prospects, despite negative assessments related to finished goods stocks. The balance of expectations regarding the evolution of sales prices rose in May after having declined over the previous three months.

In the Construction and Public Works sector, the indicator increased in May, following decreases in March and April. The improvement in the last month reflected positive contributions from employment prospects and the balance of opinions on the order books. The balance of perspectives on the selling prices for the next three months increased in May after having decreased over the previous three months.

In Trade, the confidence indicator rose in May after a decline from January to April. The improvement in May resulted from positive contributions from opinions on sales volume and business activity prospects, while assessments of the volume of stocks contributed negatively. The balance of opinions on selling prices evolution decreased in May after having increased in April.

In the Services sector, the confidence indicator increased in May, continuing the upward trend that began in January. The improvement in the indicator was due to positive contributions from opinions on the evolution of the order book and business activity, more significantly in the former, while expectations regarding demand evolution contributed negatively. The balance of expectations for service prices decreased in May after having increased in the previous month.

Notably, except for Services, the other sectors identified difficulty in hiring qualified personnel as the main obstacle to their activity, a limiting factor more pronounced in the Manufacturing Industry and Construction and Public Works.

20.7% of service enterprises plan to increase investment in 2024

According to information collected on investment trends within the QBS for the manufacturing industry, 75.3% of enterprises anticipate that investment in 2024 will stabilize compared to 2023, while 15.6% foresee an increase in investment and 9.1% expect a decrease.

For 2024, 72.1% of enterprises in the services sector expect investment to stabilize compared to the previous year, while 20.7% of enterprises expect an increase in investment, and 7.2% foresee a decrease.

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