Survey on Industry, Services and Construction - 2026-01
Published on 11th of February 2026
Industry market services and construction
If you wish to have a more detailed analysis of the results presented on this page you can consult the "Monthly business survey".
Industry ![]()
Opinion on the outlook for industrial production* ![]()
Balance of opinions SA-WDA
Balance of opinions SA-WDA
In this graph and the following the extreme values related to the COVID-19 pandemic are available in WEBSTAT
| Mar-25 | Apr-25 | May-25 | Jun-25 | Jul-25 | Aug-25 | Sep-25 | Oct-25 | Nov-25 | Dec-25 | Jan-26 | Feb-26 | |
| Change | Forecast | |||||||||||
| Production | 8 | 6 | -7 | 11 | 7 | 7 | 4 | 8 | 7 | 5 | 7 | 5 |
| Deliveries | 10 | 7 | -2 | 14 | 7 | 7 | 7 | 7 | 6 | 5 | 8 | |
| Total orders | 7 | 5 | 3 | 9 | 4 | 8 | 6 | 7 | 8 | 7 | 9 | |
| Staff | 0 | 0 | 0 | -1 | 1 | 1 | 0 | -1 | 3 | 0 | 0 | |
| Final goods prices | 0 | 0 | 0 | 3 | 0 | 1 | 1 | 1 | 1 | 1 | 3 | |
| Commodity prices | 1 | 1 | 1 | 2 | 0 | 1 | 1 | 1 | 2 | 2 | 3 | |
| Level | ||||||||||||
| Order books | -10 | -10 | -9 | -8 | -6 | -7 | -7 | -6 | -7 | -6 | -6 | |
| Inventories of finished goods | 6 | 6 | 5 | 6 | 6 | 7 | 6 | 7 | 7 | 7 | 7 | |
| Capacity utilisation rate | 75.4 | 75.4 | 75.2 | 75.4 | 75.6 | 75.9 | 76.1 | 76.2 | 76.6 | 76.5 | 76.6 | |
| Cash positions | -2 | -2 | -2 | -1 | 1 | -1 | -1 | 0 | -1 | -2 | -1 |
Changes in deliveries
Balance of opinions SA-WDA
Inventories and order book level
Balance of opinions SA-WDA
* A positive (negative) balance of opinions corresponds to a rise (fall) in the evolution of activity. Balances of opinions may range from -200 to +200.
Market Services![]()
Opinion on the outlook for services activity*![]()
Balance of opinions SA-WDA
Balance of opinions SA-WDA
| Mar-25 | Apr-25 | May-25 | Jun-25 | Jul-25 | Aug-25 | Sep-25 | Oct-25 | Nov-25 | Dec-25 | Jan-26 | Feb-26 | |
| Change | Forecast | |||||||||||
| Activity | 4 | 1 | -5 | 8 | 5 | 4 | 8 | 9 | 4 | 3 | 8 | 4 |
| Aggregate demand | 4 | 0 | -4 | 9 | 5 | 4 | 8 | 7 | 4 | 3 | 7 | |
| Prices | 1 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 3 | 1 | 2 | |
| Staff | 1 | 1 | -2 | 2 | 1 | 1 | 0 | 2 | 0 | 0 | 0 | |
| Level | ||||||||||||
| Cash positions | 1 | 0 | 0 | 1 | 1 | 0 | 1 | 2 | 1 | 1 | 1 |
Changes in demand
Balance of opinions SA-WDA
Changes in prices and staff
Balance of opinions SA-WDA
* A positive (negative) balance of opinions corresponds to a rise (fall) in the evolution of activity. Balances of opinions may range from -200 to +200.
Construction![]()
Opinion on the outlook for construction activity* ![]()
Balance of opinions SA-WDA
Balance of opinions SA-WDA
| Mar-25 | Apr-25 | May-25 | Jun-25 | Jul-25 | Aug-25 | Sep-25 | Oct-25 | Nov-25 | Dec-25 | Jan-26 | Feb-26 | |
| Change | Forecast | |||||||||||
| Acitivity | 3 | 7 | 7 | 11 | 7 | 10 | -2 | 8 | 4 | 1 | 7 | 2 |
| Estimates prices | -2 | -2 | -2 | -2 | 0 | -1 | -2 | -1 | -1 | -2 | 1 | |
| Staff | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | -1 | -1 | 0 | |
| Level | ||||||||||||
| Order books | -5 | -5 | -5 | -3 | -3 | -4 | -6 | 0 | 0 | -2 | -1 |
Order book level
Balance of opinions SA-WDA
Changes in estimates prices and staff
Balance of opinions SA-WDA
* A positive (negative) balance of opinions corresponds to a rise (fall) in the evolution of activity. Balances of opinions may range from -200 to +200.
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Survey on Industry, Services and Construction 01-2026
Updated on the 2nd of February 2026