Encuesta de Opinión Empresarial. Resultados noviembre de 2023

Abstract

In November 2023, the Retail Confidence Index (RCI) stood at 12.3%, representing a decrease of 2.4 percentage points compared to the previous month (RCI October 2023: 14.7%). The decline in retail confidence was attributed to a 3.2 pp drop in expectations for the economic situation in the next semester, a 3.1 pp decrease in the perception of the current economic situation, and a 0.9 pp increase in stock levels. Meanwhile, the Industrial Confidence Index (ICI) reached -7.1% for November 2023, a decrease of 3.4 pp from the previous month (ICI October 2023: -3.7%). The negative monthly variation in industrial confidence in November is explained by a 16.6 pp decrease in production expectations for the next quarter. However, the current volume of orders experienced a 5.3 pp increase, and stock levels decreased by 1.1 pp compared to the previous month. The capacity utilization rate in the industry for November was 77.6%, increasing by 1.6 pp compared to August 2023.