The Harmonized Business Confidence Index for Catalonia decreased by 2.2% in the fourth quarter of 2017 in comparison with the previous quarter, and in Spain as a whole it also decreased by 1.1%. By sectors of activity, all of them show a deterioration of business confidence in relation to the previous quarter, led by hostelry and transport (− 5.5%) and industry (−2.9%). Construction, retail trade and other services also decreased, though less sharply.
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.