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Business in Spain confidence continues to be an upward value for seven consecutive quarters. The increase in this business confidence is largely due to the improvement of the current situation.
But what is business in Spain confidence?
They consist of a series of statistics that the INE (National Institute of Statistics) publishes quarterly since April 2012. They are based on the opinions collected from the managers of the establishments regarding the general progress of their business in the previous quarter and their expectations for the following quarter.
Specifically in the newly released fourth quarter, business confidence increases 0.2% compared to the previous quarter. The balance of the situation that employers do (difference between favorable and unfavorable responses) remained at -13.7 points, compared to -15.4 points in the previous quarter. This improvement in business confidence comes from the business sector with establishments that think that their business evolves favorably or at least normally in the past quarter, and the detriment of those who believe that their business, on the contrary, was worse. In total, 16% believe that their business evolves better, 29.7% think that the situation of their company is getting worse and 54.3% believe that the evolution is normal and continuous.
However, in terms of expectations for the fourth quarter, the opinion of businessmen has worsened slightly more than one point, to stand at -12.8 points compared to -11.7 points in the previous quarter. The ICEA, which is what this quarterly survey is called, which is comparable at European level, is the first opinion survey conducted by the INE and is prepared from a representative sample of business establishments. By autonomous communities, business confidence increases by ten of them, especially in the Canary Islands and Extremadura, and decreases in the Balearic Islands and Catalonia. By size, trust increases in companies with 200 to 999 workers and micro-enterprises (less than ten workers), and decreases in companies with 50 to 199 employees and those with more than 1,000 employees.
Business in Spain By sectors
of the five analyzed this quarter, where business confidence increases the most is in other services (+ ,, 3%), and in construction (+ 0.2%). On the contrary, in industry it fell to -1.1% and in commerce -0.7%. In transport and hospitality it remained the same as in the previous quarter.
Business in Spain confidence is an essential element to generate collective prosperity and ensure a good development of the economy, hence the importance of taking it to statistics and publishing the data quarterly since the year 2.012. It is nothing other than measuring the pulse of economic activity through the personal vision of its main protagonists: companies. It is essential in a company both for the establishment of objectives and for the generation of expectations and their subsequent achievement, and although it may seem a priori an abstract and subjective concept, it influences the mood of the entrepreneurs themselves and the feelings of optimism or pessimism that they transmit to their work team, which becomes a decisive concept for the direction of the company, and therefore, of the country’s economy.
