Friday , February 3 2023

According to the Citadele Index, the optimism of enterprises has reached unprecedented levels


Bank & Citadele & # 8221; economist Martha Abilynis

Bank Citadele economist Martins Āboliņš

Photo: Ieva Leinish / LETA

The mood of the Latvian businessmen this autumn, according to the Citadele Index, has gained optimism for the better and even bigger companies for the past five years.

The mood of Latvian businessmen has improved this autumn, and the Citadele index was 52.4 points versus 51.3 in the previous quarter. This is the optimistic mood of entrepreneurs who have equal Citadele index since the beginning of 2013.

At the same time, the mood of the biggest businessmen in Latvia has reached unprecedented optimism and pre-crisis level. This year, the Citadele index with more than 250 employees was 62.5 points, the highest figure since the end of 2006, reaching 63.5.

Small and medium business is very cautious. Managers with employees from 50 to 249 with an index are optimistic.

The index of small businesses operating from 10 to 49 employees is 52.6, optimism of micro-enterprises – 50.6 points.

Citadele Bank's economist Martin Eboli says the optimism of growing economies and entrepreneurs is usually a good news. However, small businesses are still experiencing this positive outburst in the economy.

Finally, sections that form all indexes were assessed positively: service in the country and industry, competition in the sector, company turnover, profitability, financial position, number of employees and investments.

In the last quarter, entrepreneurs' earnings and financial position ratings were still pessimistic. Likewise, the mood of companies in the trade and services sector is improving, while production and construction, which is the most optimistic sector in Latvia, have not yet been optimized.

There is an optimistic mood in all sectors of the economy, and in the last quarter there was a real improvement in the mood in the service sector, the index rose to 52.9.

The level of optimism is similar to that of the 52.6 index in the construction industry, while the manufacturing and trading sector leaders are less optimistic – their index is 52.7 and 51.4, respectively.

The IT sector is optimally optimistic, but optimists are education, transport and storage services.

In general, mood improved for export and domestic market. Index of exporters is 55, optimism of exporting companies – 51.26 points.

Citadele Index – A study conducted by Citadele Bank in Latvia since 2004. About 750 entrepreneurs and their executives conduct quarterly surveys.

Surveys and data collection are provided by the ICSD Market and Public Opinion Research Center. During the study, producers, dealers, builders and service providers from all regions of Latvia expressed their views.

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