Business Confidence Indicators Status, expectations and confidence index Size establishments results Unidades: Índice, % ,2024QII,2024QI,2023QIV,2023QIII,2023QII,2023QI,2022QIV,2022QIII,2022QII,2022QI,2021QIV,2021QIII,2021QII,2021QI,2020QIV,2020QIII,2020QII,2020QI,2019QIV,2019QIII,2019QII,2019QI,2018QIV,2018QIII,2018QII,2018QI,2017QIV,2017QIII,2017QII,2017QI,2016QIV,2016QIII,2016QII,2016QI,2015QIV,2015QIII,2015QII,2015QI,2014QIV,2014QIII,2014QII,2014QI,2013QIV,2013QIII,2013QII,2013QI, Total , HBCI,136,134,133,2,135,9,132,5,129,127,2,131,121,9,127,130,3,128,9,114,8,109,3,105,5,95,5,95,5,130,6,131,1,135,132,9,132,5,133,9,136,2,135,5,134,9,135,4,136,9,134,2,131,8,131,4,131,2,130,5,129,7,131,4,131,2,128,1,123,2,123,2,123,118,3,113,9,113,109,3,103,6,100, Status previus quarter,3,8,1,3,6,6,9,-1,5,1,1,-2,3,1,3,-14,4,-2,-2,3,-8,3,-30,2,-32,-38,8,-62,8,-36,3,1,9,0,2,4,5,-2,5,4,4,3,1,5,9,0,4,7,1,5,3,7,5,-2,3,2,7,0,1,-1,2,-6,2,-0,1,-0,3,-1,9,-11,6,-11,7,-13,7,-15,4,-26,3,-25,8,-28,5,-35,5,-47,-46,7, Expectations for the coming quarter,9,3,-1,6,0,3,5,2,3,4,-9,8,-11,8,-4,2,-16,1,-12,8,-2,6,-0,9,-21,6,-36,5,-41,3,-47,2,-72,-5,9,-2,7,4,7,5,6,-2,7,2,9,7,1,10,7,1,9,5,2,7,7,9,3,-3,1,-1,7,-1,1,1,9,-6,5,-1,3,-0,4,0,1,-14,9,-12,8,-11,7,-14,8,-28,7,-28,8,-33,1,-38,7,-50,1, Less than 10 , HBCI,137,9,134,6,134,4,138,1,135,129,1,129,6,132,7,123,2,128,133,1,130,7,115,7,108,7,107,1,98,3,94,131,8,134,4,138,5,136,5,134,2,137,1,139,4,137,6,135,6,138,141,136,8,132,2,133,8,132,6,131,7,129,6,132,9,133,128,9,122,8,124,2,123,9,118,5,112,4,114,1,110,5,104,6,100, Status previus quarter,-8,9,-3,2,-7,2,-4,1,-12,7,-11,5,-9,8,-9,3,-26,6,-13,2,-10,-19,1,-40,3,-44,-44,7,-67,5,-50,7,-9,7,-7,-5,6,-12,4,-6,2,-4,3,-4,3,-12,2,-5,4,-2,3,-0,9,-14,-9,8,-8,1,-13,7,-19,2,-13,5,-10,-12,6,-25,4,-24,4,-23,-27,2,-39,7,-39,2,-36,5,-45,8,-57,1,-55,9, Expectations for the coming quarter,-0,6,-15,7,-12,4,-5,-5,-22,8,-23,2,-14,9,-24,7,-24,3,-13,2,-10,8,-32,-48,4,-52,1,-53,9,-81,4,-17,1,-12,4,-2,2,-1,1,-13,9,-7,6,-1,1,2,-10,7,-7,0,1,1,7,-15,9,-13,1,-10,8,-7,9,-19,5,-13,7,-10,9,-9,5,-28,-25,3,-22,-24,6,-42,7,-40,4,-41,3,-46,5,-61, From10 to 49, HBCI,139,4,137,7,136,8,140,1,136,4,134,3,130,5,134,5,123,5,129,7,133,1,131,9,115,2,109,5,107,7,97,5,95,9,133,3,134,5,139,2,136,136,9,137,7,140,1,139,7,139,9,139,8,140,2,137,7,136,9,135,8,135,9,134,5,135,7,135,8,135,3,131,5,126,6,125,9,125,6,120,3,115,8,114,5,110,103,7,100, Status previus quarter,6,5,12,3,7,7,12,6,3,4,9,2,3,2,5,6,-11,2,2,1,1,3,-5,8,-31,3,-31,7,-35,7,-61,3,-35,2,6,4,4,1,10,1,3,10,8,7,7,10,7,5,5,14,4,10,9,10,9,1,5,9,7,5,4,4,6,-1,8,9,7,4,8,1,9,-7,6,-6,5,-11,2,-12,7,-24,3,-23,-28,5,-35,3,-48,1,-47,4, Expectations for the coming quarter,12,9,2,3,4,8,9,7,2,-4,7,-10,2,-0,9,-17,-11,6,-0,7,2,9,-22,-38,8,-40,2,-44,8,-73,6,-5,1,0,7,8,9,8,1,4,6,6,11,15,6,7,9,9,11,1,13,1,2,4,3,4,4,5,6,5,-1,3,3,9,5,2,3,6,-12,5,-10,-9,3,-13,6,-28,6,-27,-33,7,-39,8,-51,6, from 50 to 199, HBCI,133,2,130,2,129,6,132,9,130,126,124,4,128,5,120,3,123,8,127,5,125,3,114,1,108,7,102,1,93,2,95,6,127,7,127,4,131,1,129,2,130,1,130,9,133,7,134,2,133,133,5,134,2,132,2,130,2,128,3,128,9,129,3,128,2,130,6,130,4,128,6,124,4,123,9,125,1,119,6,115,112,3,109,2,103,2,100, Status previus quarter,12,2,14,4,9,5,14,7,7,7,8,7,3,6,9,2,-5,4,4,2,-1,9,-20,7,-22,2,-36,4,-56,7,-23,8,9,5,5,6,12,7,4,7,11,8,9,4,16,4,11,9,16,3,12,8,16,8,8,8,12,5,6,4,9,7,5,7,9,4,10,3,10,6,3,7,1,3,-1,3,-0,3,-11,5,-13,5,-18,7,-24,3,-37,2,-38,1, Expectations for the coming quarter,17,4,5,6,8,2,13,6,11,4,-2,3,-2,6,5,-7,2,-4,7,6,7,6,-11,4,-27,3,-34,5,-42,4,-65,3,2,1,5,2,10,1,11,9,7,6,12,6,14,5,20,9,12,6,17,7,16,17,5,7,3,7,3,5,9,11,1,3,8,10,8,9,8,10,8,-0,1,0,8,3,6,-2,8,-15,9,-19,2,-23,5,-30,1,-39,5, From 200 a 999, HBCI,128,8,127,8,125,8,126,4,121,1,120,7,117,6,121,1,114,3,120,7,122,6,122,111,4,108,7,100,6,88,5,90,8,123,8,121,6,125,1,123,6,123,6,124,7,127,1,126,3,127,3,125,9,127,126,2,125,123,1,124,124,3,124,2,124,6,123,6,122,4,118,5,117,6,116,8,114,7,114,2,110,1,107,1,101,7,100, Status previus quarter,15,8,18,1,12,4,15,1,3,6,8,-1,2,6,6,-5,7,7,9,4,1,4,-17,1,-16,6,-33,9,-59,9,-26,4,11,5,5,1,11,6,7,5,10,1,8,2,14,11,4,15,4,8,6,14,8,10,4,12,5,6,8,10,8,9,5,10,6,8,6,8,7,3,9,0,-4,6,-3,3,-9,2,-8,4,-17,2,-19,1,-30,9,-31,2, Expectations for the coming quarter,18,7,13,11,9,11,3,5,3,0,3,-2,2,1,9,-8,7,-0,8,9,4,7,6,-7,-16,9,-26,6,-41,2,-65,1,6,1,5,1,10,2,9,4,6,7,12,3,14,8,14,7,14,16,2,13,4,15,1,9,8,2,7,4,9,6,8,4,11,6,8,3,9,-0,3,1,2,-2,8,-4,1,-6,6,-11,6,-19,7,-26,2,-31,6, 1000 or more , HBCI,119,1,122,2,120,7,120,119,2,118,8,114,9,119,8,114,8,119,1,115,7,118,4,106,8,104,7,97,7,84,6,94,5,121,2,117,9,119,1,121,6,121,5,120,8,121,4,123,5,125,8,122,2,123,121,9,122,4,120,4,121,2,120,8,119,6,119,1,119,7,118,7,117,115,2,115,7,115,109,9,107,4,101,8,101,3,100, Status previus quarter,9,18,4,14,3,10,6,10,5,13,2,2,2,16,3,4,9,13,9,2,1,8,-12,5,-13,7,-30,5,-59,7,-15,1,15,3,6,7,13,8,13,4,18,9,9,8,14,1,17,3,25,7,12,9,18,1,15,3,18,2,9,3,16,3,11,3,11,9,8,1,11,2,6,4,6,6,-0,7,4,4,-1,2,-6,-12,9,-20,3,-21,3,-24,2, Expectations for the coming quarter,13,14,7,13,5,14,6,12,7,6,4,8,8,2,2,8,1,7,8,11,5,-9,1,-15,3,-23,3,-39,9,-48,5,14,11,2,8,2,17,4,11,5,18,4,16,1,20,3,20,20,17,6,16,5,15,4,17,5,13,2,16,6,12,13,9,13,14,4,7,9,8,9,5,6,8,8,-4,5,-6,6,-19,-19,8,-21,4, Notas: Notes: 1) Situation: Harmonised situation indicator. It is the difference or balance between the percentage of favourable and unfavourable responses relating the ending quarter. The Situation may vary between -100 and +100. AN EXAMPLE WITH FICTITIOUS DATA: Opinions regarding the previous quarter. As for responses regarding the ending quarter, 55% of establishments had a favourable opinion about the past progress of their business in the first quarter, versus 25% that had an unfavourable opinion. The difference between these percentages of favourable and unfavourable responses referring to the ending quarter, which is called 'Situation', stands at +30 points. 2)Expectations: Harmonised expectation indicator. It collects the difference or balance between the percentage of favourable and unfavourable response regarding the beginning quarter. The expectations may vary between -100 and +100. AN EXAMPLE WITH FICTITIOUS DATA: Opinions regarding the beginning quarter 65% of establishments state to be optimistic about the progress of their business regarding the starting quarter, whereas 23% are pessimistic. The difference between the percentage of favourable and unfavourable responses, which is called 'Expectations', stands at +42 points. 3)HBCI: Harmonised Business Confidence Index. It was built from a conveniently normalised geometric average between the Situation and the Expectations. Fuente: