Wed. Apr 24th, 2019

Business confidence recedes in Catalonia while it grows in the rest of Spain

Business confidence recedes in Catalonia while it grows in the rest of Spain


Political tension, economic uncertainty and social pressure for independence continue to weigh on confidence of entrepreneurs and investors in Catalonia. Therefore, the business confidence index has fallen 0.2% in the second quarter of 2019 compared to the previous one, while in the whole of Spain it has increased by 0.3%, according to the Harmonized Business Confidence Indicator (ICEA), which coincides with figures and approaches with the Institute of Statistics of Catalonia (Idescat). The decline in the confidence of entrepreneurs in the Catalan trade, which has registered -3.5%, has dragged the index down, with the collaboration of the construction sector, which is down -1.7%. The companies in Catalonia with between 10 and 49 workers and those between 50 and 199 show a decrease in business confidence, of -1.4% and -1.2%, respectively. On the contrary, it improves confidence in the sectors of industry (+2.7%) and hospitality and transport (+0.2%), and remains stable in the rest of services, according to a statement.

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As for the rest of the country, the ICEA sees a rebound of confidence in the second quarter, which means the return to positive rates. Specifically, the balance of expectations -difference between the opinions of optimistic entrepreneurs and the pessimists- stood at 5.6 points, compared to the decrease of 2.7 points registered in the previous quarter. This is due to the fact that the percentage of business establishments that think that the progress of their business will be favorable between April and June of this year has reached 20.8%, higher than the previous quarter (16.6%) . At the same time, the percentage of entrepreneurs who believe that their business will be running normally has remained stable at around 64%, while employers who are pessimistic about the evolution of their business have fallen from 19.3% from the previous quarter to 15.2%.

Castilla y León is the community with the lowest confidence index (-1.9%), followed by Canarias (-1.6%) and Asturias (-1.4%). The greatest increases occurred in the Balearic Islands (5.4%), Extremadura (3.3%) and Madrid (1-6%).

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