Encuesta de Opinión Empresarial. Resultados febrero de 2022

Abstract

In February 2022, the Retail Confidence Index (RCI) stood at 37,4%, showing a drop of 1,8 pp compared to the previous month. The decrease in confidence was mainly explained by an increase of 6,5 pp in the level of inventories. Similarly, there was a slight drop of 0,2 pp in the business current situation indicator, which was offset by an increase of 0.4 pp in the business expectations indicator for the next six months.

The Industrial Confidence Index (ICI) reached 15,5%, increasing 2,8 pp compared to the previous month. While all three components of the index contributed positively to this result, the 3,7 pp increase in production expectations for the next quarter was the main determinant. Similarly, the current volume of orders increased by 3,3 pp and the level of inventories decreased by 1,4 pp.

In February, the industry installed capacity utilization was 74,9%, decreasing by 3,1 pp and 0,6 pp compared to November and February 2021. For its part, business perception of the favorable economic and socio-political conditions to invest decreased compared to the previous measurement. On the other hand, the construction sector recorded a deterioration in the current economic situation of companies and in the pace of construction compared to the fourth quarter of 2021, while the sector's expectations for the next quarter enhanced.