This autumn autumn mood is the best in the last five years; even after the crisis, even after the crisis, even optimization was achieved, according to the Citadel index.
In the fall, the mood of Latvian entrepreneurs improved and the Citadel index was 52.4 points, compared with the index of 51.3 in the previous quarter. This is the most optimistic mood of entrepreneurs since the beginning of 2013 when the index of the Citadel was the same.
In addition, the feeling of big businessmen in Latvia has reached unprecedented optimism and is pre-crisis level. This year, with more than 250 employees, the Citadel index is 62.5 points, the highest index since the end of 2006 when it was 63.5 points.
Small and medium-sized businesses are more cautious. With an index of 57, managers with more employees from 50 to 249 are optimistic.
The index for small enterprises employing 10 to 49 employees is 52.6, while the optimism of micro-enterprises is more cautious – 50.6 points.
Martins Āboliņš, economist at Citadela Bank, says that the growing economy and optimism of entrepreneurs are generally good news. However, it should be noted that small businesses still do not feel this positive wave in the economy.
Finally, all areas of index creation are positively assessed – activity in the country and industry, competition in the sector, company turnover, profitability, financial position, number of employees and investments.
In the last quarter, the assessment of corporate profitability and financial position was still pessimistic. Similarly, the mood of companies in the trade and services sector seems to improve, while production and construction, which have long been the most optimistic sectors in Latvia, are less optimistic.
In all areas of the economy, we are experiencing optimistic feelings, and in the last quarter, the mood improved in the services sector, with the index rising to 52.9.
A similar level of optimism with the index of 52.6 is in the construction sector, while the managers in the processing and trading sectors are somewhat less optimistic – their index is 52.7 and 51.4 respectively.
The information sector is the most optimistic about services, while cautious optimists are providers of education, transport and storage services.
In general, the mood has improved both for exports and for the domestic market. The exporters' index is 55, while the optimism of non-export companies is 51.26 points.
Citadele Index is a study conducted by Citadele Bank in Latvia since 2004. A quarterly survey of 750 business owners and their executives is being conducted.
Surveys and data collection are provided by the SKDS Marketing and Research Center. In the study, producers, traders, builders and service providers from all regions of Latvia expressed their opinion.