Tuesday , October 19 2021

Corporate optimism has reached an unprecedented level



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According to the Citadele Index study, this spring of Latvian businessmen is the best in the last five years, even for big companies, reaching optimism even from the crisis.

In the autumn, the climate of the Latvian entrepreneurs recovered and the Citadele Index was 52.4 points with 51.3 points compared to the previous quarter. Since the beginning of 2013, when these figures are equivalent, they are the most optimistic of the entrepreneurs.

In addition, the feelings of big businessmen in Latvia have reached an unprecedented optimism and pre-crisis levels. The Citadele Index has more than 250 employees with 62.5 points this fall. The highest index since the end of 2006 was 63.5.

Small and medium enterprises are more cautious. With an index of 57.0, managers with employees ranging from 50 to 249 are optimistic. For small companies employing from 10 to 49 employees, the index is 52.6, while the optimism of micro-enterprises is more attractive – 50.6 points.

Martins henüzbolimelš, an economist at the Citadele Bank, says: ve The optimism of growing economies and entrepreneurs is generally good news, apparently that small businesses do not yet feel this positive wave in the economy. Finally, a positive assessment is made on all index-forming departments – activities in the country and the sector, competition in the sector, company turnover, profitability, financial situation, number of employees and investments. In the last quarter, the assessment of the profitability and financial situation of entrepreneurs was pessimistic. Similarly, while the mood of the companies in the trade and service sectors tends to improve, the optimism in manufacturing and construction, which is the most optimistic sector in Latvia, has been decreasing. "

While optimism was observed in all areas of the economy, the mood of the services sector also improved significantly in the last quarter and the index rose to 52.9. While a similar level of optimism with the 52.6 index is under construction, managers of the manufacturing and trade sectors are slightly less optimistic – indices 52,7 and 51,4 respectively. The IT sector is the most optimistic about services, and the cautious optimists are providers of education, transportation and storage services.

In general, the mood improved for both export and domestic market. While the optimism of exporters is 51.26 points, the index of exporters is 55 & # 39;

The Citadele Index has been the work of the Citadele Bank since 2004 in Latvia. A quarterly survey of 750 business owners and managers is carried out. Surveys and data collection are provided by the market and public opinion research center "SKDS". In the study, producers, dealers, builders and service providers from all regions of Latvia expressed their views.

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