19 January 2024

Business Confidence Indicators. ICE

First quarter 2024

Principales resultados

The Business Confidence increases by 0.6% in the first quarter of 2024 as compared with the fourth quarter.
18.6% of business establishments managers considere that the performance of their business during the first quarter of 2024 would be favourable, while 20.2% thought it would be unfavourable.

Más información

Anexo de tablas (incluye información sobre CCAA y series originales y ajustadas por sectores)
Detailed results (quarterly and annual data)

Business Confidence

The Business Confidence increases by 0.6% in the first quarter of 2024 as compared with the fourth quarter of 2023.

Business Confidence

First Quarter 2024. Quartely rate

Four of the five sector analysed increase confidence with respect to the previous quarter. Construction (2.1%) registeres the greatest increase. On the other hand, Transport and Accomodation (-1.0%) registeres the lowest decrease.

The five sizes of establishments analysed presente an increase in confidence, as compared with the previous quarter. From 200 to 999 employees (1.6%) showes the largest increase and Less than 10 employees the largest decrease (0.1%).

Opinions regarding the coming quarter (Expectations)

18.6% of business establishments managers consideres that the performance of their
business during the first quarter of 2024 would be favourable, while 20.2% think that it would
be unfavourable.

Opinions regarding the coming quarter (Expectations)

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        "19.6",
        "56.6",
        "23.8",
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        "Q4",
        "15.5",
        "57.2",
        "27.3",
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        "15.1",
        "60.0",
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        "20.6",
        "62.2",
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        "22.2",
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        "19.2",
        "61.9",
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8.9% of business establishments managers considers that employment, referring to personnel hired in their business, will increase in the first quarter of 2024, while 12.4% believe that it will decrease.

26.3% of business establishments managers foresees that the price level of their business will increase in the first quarter of 2024, while 6.4% estimates that it will decrease.

Opinions regarding the ending quarter (Situation)

24.6% of business establishments managers expresses a favourable opinion regarding the performance of their business in the fourth quarter 2023. In turn, 16.5% has an unfavourable opinion.

Opinions regarding the ending quarter (Situation)

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        "Q3",
        "21.9",
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        "Q4",
        "20.1",
        "57.5",
        "22.4",
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        "21.1",
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        "22.6",
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        "21.3",
        "61.0",
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Results by Autonomous Communities

Business confidence increases in the first quarter of 2024 as compared with previous quarter in 13 autonomous communities and decreases in the other four.

The largest increases are recorded in Aragón (4.1%), Región de Murcia (2.4%) and Comunitat Valenciana (2.2%). The largest decreases are recorded in Cantabria (-3.4%), Illes Balears (-3.3%) and La Rioja (-3.2%).

National index and by Autonomous Communities

First Quarter 2024. Quartely Rate

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Review and update of data

The data published today is final and is not subject to further revision. All the results are available on INEBase.

Methodological note

The objective of this survey is to find out, at a given time, the vision that establishment managers have about their situation.

The BCI survey collects opinions from establishment managers regarding the performance of their business for each last quarter and on their expectations for each coming quarter.

The methodology is based on the Japanese TANKAN index, that is, there is no weighting or elevation depending on the characteristics of the establishment since the opinion of each informant counts equally

The survey methodology enables the integration of analogous data compiled by the statistics services of the Autonomous Communities, once their consistency is checked so they can be incorporated into the general process of the survey. There are currently agreements signed to this effect with Andalucia, Illes Balears, Canarias, Castilla y León, Cataluña, la Rioja, Extremadura and Comunitat Valenciana.

Type of survey:: quarterly continuous survey.
Base period:: First quarter of 2013.
Population scope:: all establishments whose main activity is included in the following sections of CNAE-2009: B to N (both inclusive, except for division 70), R (only divisions 92 and 93) and S (only divisions 95 and 96).
Geographical scope:: the entire national territory.
Sample size:: The simple is representative both nationally and by Autonomous Community and is made up of some 8,000 establishments.
Reference period:: the reference is quarterly and questions are asked about the quarter ending and about the coming quarter.
Collection method:: completion of the questionnaire by establishment managers themselves using one of the following methods: internet (IRIA system), e-mail, fax, telephone or by postal mail.

Further information is available in the methodology and the standarized methodological report.

INE's statistics are produced according to the European Statistics Code of Practice. For further information at Quality at INE and Code of Practice.

For further information see

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