The confidence of Spanish businessmen for the fourth quarter of 2018 has fallen by 1.7% compared to the three previous months, after three consecutive quarters of increases.
According to the indicator published today by the National Institute of Statistics (INE), the Harmonized Business Confidence Index (ICEA) has decreased among entrepreneurs in all sectors analyzed: transport and hospitality (2.7%), industry (2.5 %), commerce (1.6%), construction (1%) and other services (1.1%).
It has also fallen among companies of all sizes, although with more strength in those between 50 and 199 employees (2.1%) and between 200 and 999 (1.9%). Between the companies between 10 and 49 the confidence has fallen the same as the average (1.7%), among the microenterprises – less than 10 workers – it has fallen by 1.6% and among those with more than a thousand employees it has retreated 0.5%.
Overall, 19% of managers of business establishments consider that the progress of their business will be favorable in the fourth quarter of 2018, while 16.1% believe it will be unfavorable. The remaining 64.9% believe that it will be normal.
The balance of expectations (difference between favorable and unfavorable responses) is 2.9 points for the third quarter of 2018, compared to 7.1 for the three previous months.
In relation to the third quarter of the year, 20.7% of managers of business establishments consider that it was favorable, while 17.6% value the period with pessimism.
By autonomous communities, business confidence decreased in the fourth quarter of 2018 compared to the previous quarter in 13 autonomous communities, increased by three and remained only in Aragon.
The greatest decreases were recorded by the Balearic Islands (4.7%), Navarre (4.3%) and Murcia (3.3%), while the only increases were in Galicia and La Rioja (1.1% in both ) and Canary Islands (0.3%).