Andorra Business Confidence Falls to 97.66, Down 3.95% in Q2

Andorra's business confidence index fell 3.95% in the second quarter of 2026, reaching 97.66 points from 101.68 in the first quarter, according to data released Monday by the statistics department based on Chamber of Commerce surveys. The harmonised index has now declined for two straight quarters, dropping from 102.62 points in the fourth quarter of 2025. Compared to the second quarter of 2025, it is down 2.13% from 99.78 points.

The overall retreat signals pessimism across much of the economy. Construction stood out as the only one of the four main sectors to post a quarterly gain, up 2.43%, while agriculture suffered the sharpest drop at 12.5%, followed by services at 4.2% and industry at 2.12%.

Sector breakdowns showed deeper divides. Education and health plunged 14.83% quarterly, with transport and storage down 10.51% and hospitality off 10.21%. Real estate activities fell 6.72%, information and communications 6.67%, retail trade 3.7%, and industry 2.12%.

Positive shifts were limited. Financial and insurance activities rose most at 6.48% quarterly and led annual gains at 5.57%. Construction gained 4.2% yearly, recreational activities and other services increased 2.97% quarterly and 0.24% annually, and professional and administrative activities edged up 0.45% quarterly and 0.91% yearly. Hospitality recorded a negligible annual rise of 0.02%.

Yearly, losses were steepest in transport and storage (-11.98%), education and health (-11.04%), and real estate (-10.81%), followed by agriculture (-9.02%), retail (-3.23%), information and communications (-1.88%), and industry (-1.86%). Finance and construction provided some counterbalance in an otherwise weakening landscape.