Summary
The Business Climate Indicator weakened, moving back to the levels reached in October and November. The confidence levels in manufacturing industry decreased, continuing the shift observed in the previous month. In services, negative developments this month caused again a discontinuance of the positive trend. In construction and public works, data for January protracted the adverse trend seen over the last five months. In turn, the improvement in trade, the fourth in a row, was common to both sub-sectors, but more apparent in retail trade. The Consumer Confidence Indicator fell slightly, after having stabilised in the previous month.