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Business Confidence Indicators. Q1 2019

The Harmonized Business Confidence Index (HBCI) for Catalonia decreased by 0.2% in the first quarter of 2019 with respect to the fourth quarter of 2018, while it also fell by 1.0% throughout Spain. The fall in the index can be explained by the decrease of 3.4% in industry’s business confidence in relation to the previous quarter. In contrast, there were rises in confidence in the hostelry and transport sectors (1.8%), in construction (1.7%) and in trade (1.2%), while it remained practically stable in rest of services (−0.1%).

Idescat has produced the Harmonised Business Confidence Index for the whole of Catalonia and for the industrial, construction, trade, hostelry, transport and other services activity sectors. It is also disaggregated by size of establishment and chamber regions (or groups).

Its objective is to collect business owners' opinions about the present and future situation of their businesses, and hence to predict developments in the economies to which they refer.

The variable used to calculate it is the establishment's performance in the quarter that has just ended (situation) and the coming quarter (expectations). The base used for calculating the ICEH is the first quarter of 2013.

The data used is taken from the integration of the Business Climate Survey sample (which Idescat produces with the Barcelona Chamber of Commerce) and the sample for Catalonia used for the Business Confidence Indicators by the INE.

Basic data

Short-term economic indicators