Business Climate Survey. Section on the Current Entrepreneurial Situation. Q2/2026

In the second quarter of 2026, 48.8% of companies in Catalonia report that the conflict in the Middle East is affecting their business situation: 40.0% have already been affected and 8.8% will be affected shortly.

A total of 49.8% of the companies affected by the conflict consider that demand has decreased or will decrease, and the sectors reporting the largest decrease are industry and trade (54.1% and 54.0%, respectively). A total of 3.7% of companies report an increase in demand, a percentage that rises to 8.2% in the case of accommodation and food service activities. In contrast, 46.5% of the affected companies do not expect any significant impact on demand.

A total of 86.5% of the companies reporting an effect on their business derived from the conflict have seen an increase in the price of purchases of goods or services (raw materials, intermediate products, merchandise or supplies), and 48.4% report stoppages or delays in the supply of goods or services.

Of the companies affected by the increase in the cost of goods or services, 29.9% of companies have seen the price of their purchases increase by up to 5%, 42.3% by between 5% and 10%, and 27.8% by more than 10%.

The measures that companies have adopted or plan to adopt to address the increase in the cost of purchases are mainly absorbing losses or reduced profits (75.6%) and passing on the increase in input costs to final prices (60.9%).

A total of 42.7% of the companies affected by the increase in the cost of purchases expect that price increases will cease being significant during 2026, and 43.3% believe this will happen during 2027 (33.3% during the first half of the year and 10.0% during the second half). Meanwhile, 14.0% of companies expect a recovery beyond 2027, and among these, the highest percentages are found in the construction sector and in the smallest establishments (fewer than 10 employees), with 17.6% and 17.0%, respectively.