The Latvian business salad of this spring is the best in the last five years, even even even optimism before the crisis for large companies, according to the Citadele Index study.
The mood of Latvian entrepreneurs this autumn has improved, and Citadele Index is 52.4 points, compared to 51.3 points in the previous quarter. This is the most optimistic mood of entrepreneurs since the beginning of 2013 when the figures were the equivalent.
In addition, the feeling of the great business in Latvia has reached unprecedented optimism and is pre-crisis level. The Citadele Index has more than 250 employees this autumn with 62.5 points, the highest index since the end of 2006 when it was 63.5.
Small and medium sized businesses are more cautious. With an index of 57.0, managers with a number of employees ranging from 50 to 249 are optimistic. The index for small companies employs 10 to 49 employees in 52.6, while micro-enterprise optimism is more careful – 50.6 points.
Martins Āboliņš, economist at Citadele Bank, said: "In general, growing economies and entrepreneurs' optimism are good news, it should be noted that businesses that seem seemingly small, do not feel , this positive ton in the economy. At the end, there is a positive assessment of all the sections that form an index – activity in the country and industry, competition in the sector, company turnover, profitability, status financial, number of employees and investments. In the last quarter, entrepreneurs' assessment of profitability and financial position remained pessimistic. Similarly, the mood of companies in the trade and service sectors tends to improve, while optimism in manufacturing and construction, which has been the most optimistic sector in Latvia, has reduced. "
An optimistic feeling is observed in all parts of the economy, and in the last quarter there has been a specific improvement in the mood in the service sector, with the index rising to 52.9. A similar level of optimism with an index of 52.6 is built, while manufacturing and trade sectors managers are slightly less optimistic – their index is 52.7 and 51.4 respectively. The IT sector is most optimistic about services, while careful optimists are providers of education, transport and storage services.
Overall, the mood has improved for the export and domestic market. Exporters index is 55, while optimism of non-exporting companies is 51.26 points.
Citasele Index is a study that Citadele Bank has held in Latvia since 2004. A quarterly survey of 750 business owners and operators is carried out. Market surveys and data collection is provided and the public opinion research center "SKDS". In the study, manufacturers, sellers, builders and service providers from all regions of Latvia expressed their views.