According to the National Institute of Statistics (INS), a period of relative stability is expected in the manufacturing industry, retail trade, and services.

However, a moderate decrease in the number of employees in construction and an increase in prices in manufacturing, construction, and retail trade are anticipated.

The conjunctural balance indicates the managers' perception of the dynamics of a phenomenon, which should not be confused with the growth or decline rate of any statistical indicator produced by the INS.

The percentage conjunctural balance is obtained as the difference between the percentage of managers who have chosen the positive option of the phenomenon and the percentage of those who have indicated the negative option.

According to estimates from November 2023, a decrease in the production volume in the construction sector is expected for the next three months (conjunctural balance -21%).

Managers anticipate a moderate decrease in the number of employees (conjunctural balance -7%). Regarding the prices of construction works, an increase is expected (conjunctural balance +27%).