Business Confidence Indicators. Q4/2025

The Harmonised Business Confidence Index (HBCI) of Catalonia decreased by 1.9% in the fourth quarter of 2025 compared to the previous quarter.

By activity sector, all sectors worsened in business confidence except for construction (0.5%). Accommodation and food service activities, and other services are the sectors where it decreased the most (−2.7% in both cases), followed by trade (−1.6%) and industry (−1.0%).

In relation to the same quarter of the previous year, the Business Confidence Index increased by 0.1%. There was a different behaviour by sector, with increases in confidence in industry (3.6%) and in construction (2.6%) and decreases of business confidence in accommodation and food service activities and transport (−4.6%), in trade (−0.1%) and in other services (−0.8%).