Business confidence indicators show continued growth in July 2026, building on positive momentum since May. The business climate improved in services for the third consecutive month, while manufacturing remained stable. The building and trade sectors experienced slight declines. Capacity utilisation in manufacturing fell for the third quarter in a row, from 76.1% in April to 74.6% in July. Services sector confidence rose, with stronger future activity and demand expectations. Manufacturing saw improved demand forecasts but higher-than-normal stock levels. Building industry optimism waned as order book assessments weakened. Trade sector demand expectations worsened slightly, though employment and supplier orders are expected to rise. The overall smoothed synthetic curve indicates a slight economic upturn.
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