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

Andorra's business confidence index dropped 3.95% in the second quarter of 2026 to 97.66 points, down from 101.68 in the prior quarter, according to statistics department data drawn from Chamber of Commerce surveys and published Monday.

The harmonised index has fallen for two consecutive quarters, after 102.62 points in the fourth quarter of 2025. On an annual basis, it declined 2.13% from 99.78 points in the second quarter of 2025.

Most sectors reflected the broader pessimism. Construction was the sole main sector to record a quarterly increase, rising 2.43%. Agriculture posted the largest drop at 12.5%, with services down 4.2% and industry off 2.12%.

Subsector results underscored the downturn. Education and health fell 14.83% from the previous quarter, transport and storage dropped 10.51%, and hospitality declined 10.21%. Real estate activities decreased 6.72%, information and communications 6.67%, and retail trade 3.7%.

Financial and insurance activities provided the strongest quarterly lift at 6.48% and topped annual gains with a 5.57% rise. Construction advanced 4.2% year-over-year, while recreational activities and other services grew 2.97% quarterly and 0.24% annually. Professional and administrative activities edged up 0.45% quarterly and 0.91% yearly. Hospitality saw a minimal annual increase of 0.02%.

Annually, the steepest declines hit transport and storage at 11.98%, education and health at 11.04%, and real estate at 10.81%. Agriculture fell 9.02%, retail 3.23%, information and communications 1.88%, and industry 1.86%. Finance and construction offered limited offsets in the weakening environment.