Latest News Stream - Business Confidence

Uganda’s Business Tendency Index fell to 53.5 in October 2026 from an upwardly revised 56.7 in September, its lowest reading since February 2023. Assessments weakened across most indicators, including the present business situation (50.3 vs 53.7), supplier order volumes (53.9 vs 57.7), current employment (47.9 vs 51.9), expected employment (54.6 vs 57.3), sector competition (70.8 vs 72.4), financial situation (47.1 vs 52.6), access to credit (38.9 vs 41.2), and current and future demand for services (50.9 vs 56.8 and 65.5 vs 70.9, respectively). The three-month business outlook also weakened (59.2 vs 62.3). Meanwhile, average selling prices (66.4 vs 61.5), stocks of finished products (48.1 vs 47.9), and order books (46.5 vs 41.9) increased. Across sectors, confidence declined in construction (39.8 vs 46.0), manufacturing (52.6 vs 53.1), wholesale trade (46.7 vs 49.2), financial services (77.7 vs 85.0), and other services (53.4 vs 59.7), while improving in agriculture (57.5 vs 56.4).

Mexico’s manufacturing business confidence edged up to 48.4 in October 2026 from an upwardly revised 48.1 in September. However, the index remained below the 50-point threshold for the 19th consecutive month, indicating continued pessimism among manufacturers. While sentiment towards investment conditions weakened, with the corresponding index declining by 0.4 points to 34.1, the current economic situation index increased by 0.3 points to 48.2 and expectations for the economy edged up by 0.1 points to 52.2. Meanwhile, manufacturers were more positive about their own business conditions, with the current conditions index rising by 1.1 points to 51.4 and the future conditions index increasing by 0.5 points to 55.9.

Thailand’s business confidence indicator fell to 45.2 in October 2026 from 48.1 in the previous month, remaining below the 50 threshold for the tenth straight month and marking its lowest level since May. Sentiment weakened across performance (47.5 vs 50.2 in September), production (47.9 vs 51.5), and employment (48.9 vs 50.3). By sector, confidence in manufacturing declined, led by food and beverage manufacturers, particularly those affected by flood damage and concerns over lower agricultural output due to El Niño. Confidence also deteriorated among electronics and electrical appliance manufacturers amid flood risks to warehouses and electrical systems and transport disruptions. Non-manufacturing confidence also weakened, particularly in transportation, trade, and warehousing, as persistently high costs amid prolonged Middle East tensions weighed on business confidence. The three-month expected Business Sentiment Index rose to an eight-month high of 51.3 from 50.8 in September.

Business confidence in Singapore’s manufacturing sector remained firmly positive in the third quarter of 2026, with the net weighted balance climbing to 24% from 12% in the previous survey, as robust global demand for AI-related products continued to underpin sentiment despite elevated geopolitical and economic uncertainties. Electronics was the most optimistic segment, with its net weighted balance surging to 42% from 19% in Q2, supported by stronger sentiment across semiconductors (47% vs 29%), computer peripherals and data storage (49% vs -73%), and other electronic modules and components (35% vs -18%). Biomedical manufacturing also maintained a positive outlook, with the balance increasing to 14% from 3%, largely driven by medical technology (17% vs -1%). In contrast, precision engineering sentiment weakened, with the balance declining to 48% from 55%, reflecting softer confidence in machinery and systems (58% vs 62%) and precision modules and components (6% vs 28%).

Switzerland’s KOF Economic Barometer fell to 107.6 in October 2026, down from 109.1 in September and below market expectations of 108.3. The decline was reflected across most indicator groups. On the demand side, foreign demand and private consumption weakened slightly. In terms of production, other services and financial and insurance services weighed on the index, while manufacturing provided a positive contribution. Within the producing sector, developments were mixed, as indicators for intermediate-goods inventories and the competitive situation weakened, while those for exports, production activity and the assessment of production barriers improved. Within manufacturing, the metal industry and food and beverage producers showed particularly positive developments, while the outlook for paper and printing products deteriorated. Despite the decline, the barometer remained above its medium-term average, indicating a continued robust outlook for the Swiss economy.

Colombia’s industrial confidence indicator rose by 2.5 percentage points to 8.3% in September 2026, up from the previous month, reaching its highest level since September 2025. The improvement was driven by a 6 percentage point decline in inventory levels and a 2.9 percentage point increase in current order volumes. However, the gains were partially offset by a 1.6 percentage point drop in production expectations for the next quarter. Despite the monthly improvement, industrial confidence remained below its year-earlier level, falling by 0.7 percentage points from 9% in September 2025.

The seasonally adjusted industrial confidence indicator in Spain improved further to -0.7 in October 2026 from -1.5 in September, marking the best reading since June 2022. It also remains above its long-term average, as it has since December 2023, and stands 4.2 points higher than a year ago. Production expectations (+3.6 points to 8.4) rose sharply for the second consecutive month, reaching their highest level since September 2024. The order book indicator improved again (+1.4 points to -3.7), continuing the general upward trend observed since September 2025, and reached its highest level since July 2022. The inventory level indicator, which fell significantly last month, increased again this month by 2.6 points to 6.7. Meanwhile, price pressures intensified, with the gauge climbing 14 points to 26.

Italy’s manufacturing confidence indicator remained unchanged at 91.9 in October 2026, falling short of market expectations of 92. Manufacturers reported improving assessments of order books and production expectations, although inventories of finished goods were seen as accumulating, suggesting demand may not be keeping pace with output. In contrast, overall business confidence strengthened, with the composite indicator rising to 96.6 from 95.9. The improvement was driven by market services, where confidence increased to 99.6 from 97.1, and construction, where the index edged up to 97.8 from 97.5. However, sentiment deteriorated in retail trade, with confidence falling to 100.7 from 104.3, indicating weaker conditions in the sector.

The business confidence in Portugal edged down for a second straight month to 2.6 in October 2026, the lowest since May 2025, compared to 2.8 in September. Confidence fell in the services sector (7.5 vs 8.8) amid weaker outlook regarding the evolution of demand, and, significantly, assessments of the company’s activity as well as opinions on the order book. Sentiment also weakened in construction (4 vs 4.5), retail (1.6 vs 1.7) and remained subdued in manufacturing (-4.1 vs -4.3). For 2027, the majority of companies in the manufacturing industry (61.9%) and in the services sector (73.3%) anticipate that investment will stabilize compared to 2026.

Bulgaria’s industrial business climate index fell to 14.1 in October 2026 from 16.9 in the previous month, marking its lowest reading since April. Firms became less optimistic about the current business situation (15.7 vs 20.5 in September), while production expectations for the next three months (6.0 vs 7.7) and the next six months (12.5 vs 13.4) also weakened. Total order assessments deteriorated further (-22.3 vs -20.7). Moreover, concerns increased over insufficient domestic demand (26.9 vs 24.8), insufficient foreign demand (24.3 vs 22.4), labor shortages (36.4 vs 31.2), energy shortages (1.5 vs 1.2), competition from imports (10.8 vs 10.7), and financial problems (5.8 vs 4.8). Selling price expectations also rose notably (16.5 vs 12.5). In contrast, employment expectations for the next three months strengthened, remaining positive at 1.7, up from 0.9 in September.

Slovakia’s industrial confidence indicator rose by 7.7 points to -4.0 in October 2026 from -11.7 in the previous month. The improvement was driven by more optimistic expectations for industrial production growth (9 vs 4 in September), particularly in the manufacture of wood and paper products (14 vs 4) and other manufacturing, repair, and installation of machinery and equipment (25 vs 22), while confidence in computer, electronic, and optical products turned positive (4 vs -54). Additionally, expectations for the trend in industrial production improved (9 vs 4), while sentiment regarding current production turned positive (11 vs -8). Employment expectations also improved, turning favorable (6 vs -5). On the other hand, assessments of stocks of finished goods deteriorated (4 vs 24), while views on current order levels became more negative (-17 vs -15). Export order assessments also weakened further (-20 vs -18).

Business confidence in the Dutch manufacturing sector fell to 2.3 in October 2026 from 4.2 in September, marking its lowest reading since June. The decline reflected weaker expectations for business activity, which fell to 16.8 from 19.4 in September, and deteriorating assessments of order books, which worsened to -4.0 from -2.3. Meanwhile, inventory assessments deteriorated to -6.0 from -4.5. Across sectors, sentiment weakened in food and beverages (0.3 vs 1.8), textiles, clothing and leather (-12.4 vs -2.5), paper and graphic products (-2.4 vs 3.2), and refineries and chemicals (-0.5 vs 1.1). Confidence also eased in wood and building materials (2.3 vs 2.9) and electrical engineering and machinery (8.0 vs 11.3). In contrast, sentiment improved in base metals and metal products (1.2 vs 3.0), transport equipment (3.8 vs 3.0), and other industry and repair (2.0 vs 1.5).

Sweden’s business confidence indicator rose for a seventh consecutive month to 110.7 in October 2026 from 109.2 in September, reaching its highest level since May 2022 and remaining well above its historical average of 100. The improvement was driven by a sharp rise in manufacturing, with manufacturing and trade now reporting the strongest confidence. Demand conditions (-15 vs -18 in September) reflected more positive assessments in manufacturing and services. Employment was broadly unchanged over the past three months, while hiring plans (7 vs 6) pointed to above-normal workforce growth. Labor shortages eased slightly to 22% of firms from 20% in September, below the historical average of 25%, although shortages in manufacturing and construction were above normal. Sales price expectations (24 vs 22) signaled more widespread price increases than usual. Profitability assessments improved (-2 vs -7 in April), near the historical average, while annual inflation expectations stood at 2.7%.

New Zealand’s ANZ Business Outlook Index rose to 52.5 in October 2026 from September’s three-month low of 51.9, indicating continued business optimism despite headwinds from higher oil prices. Expected own activity eased (46.2 vs 47.9 in September), while assessments of past activity improved (15.0 vs 10.8). Export intentions strengthened (32.6 vs 30.0), with profit expectations edging higher (23.7 vs 22.5), while employment intentions inched lower (17.4 vs 17.9). Investment intentions weakened (18.3 vs 22.6), while pricing intentions increased (52.2 vs 48.4). Cost expectations held steady at 81.9, and wage growth expectations eased slightly (2.79% vs 2.83%). Inflation expectations moved a bit higher (3.31% vs 3.25%), amid improvement in credit availability (0.5 vs -0.3). By sector, both residential construction (19.4 vs 22.2) and commercial construction (18.6 vs 23.6) moderated.

Finland’s industrial confidence indicator edged down to 2 in October 2026 from 3 in the previous month, which was the lowest reading in five months. The latest figure marked the lowest level since March but remained above its long-term average of 0. Assessments of stocks of finished products fell to 3 from 5, while assessments of book orders deteriorated further, declining to -9 from -6 in September. Meanwhile, production expectations for the coming months remained unchanged at 19. In contrast, capacity utilization improved, with 67% of companies reporting that they were operating at full capacity, up from 66%. The survey also showed that Finnish industrial confidence remained significantly above the EU average, based on comparative data for September.

Slovenia’s seasonally adjusted manufacturing confidence indicator remained unchanged at -2 in October 2026, staying slightly below its long-term average of -1.9. The indicators for total orders and export orders also remained stable at -13 and -14, respectively. Meanwhile, production strengthened, edging up to 6 from 5, while stocks of finished products increased to 7 from 5 in September. Uncertainty eased to 31 from 32, while the indicator for accumulated labour improved to 6 from 4. Production expectations became more optimistic, rising to 15 from 13, while employment expectations declined to 15 from 19. Selling price expectations also increased to 9 from 8. Outside manufacturing, confidence weakened in retail trade, improved in construction, and remained unchanged in services.