The business confidence indicator shows a 3.9% decline in the Balearics. This decrease is for the current quarter and compares with the final quarter of 2018. The figures, presented by the National Statistics Institute, indicate that this is the greatest decrease in confidence among Spanish regions. In overall national terms, there is a one per cent decrease, with the Canary Islands (down 2.9%) another region to show a notable decline.

Five principal sectors are analysed in arriving at this indicator. One of these, transport and hospitality, shows a 3.3% drop in confidence, the highest. For retailing there is a drop of 0.7%. Construction is the only one to register an increase, and a low one at that, plus 0.1%.

The decrease in confidence is especially marked when it comes to the smallest businesses, those with ten or fewer employees. This is down 2.1%. By contrast, companies with 1,000 or more employees indicate a 0.6% increase in confidence.

Most companies, 64.1% (a slight fall), believe that business this quarter will be "normal". Those thinking it will be favourable have decreased 2.4% to 16.6%, while those who are pessimistic have increased to 19.3% to 16.1%.