The SME Confidence Index (ICPyme), prepared by the CAME -Argentine Confederation of Medium Enterprises-, reflects that small and medium-sized Argentine entrepreneurs are having a hard time believing in the country’s economy again. This is reflected in the numbers, which indicate that the confidence of SME entrepreneurs had a slight increase in June, rising 0.4% compared to May, although it is 9.4% below the comparison compared to the previous year.
As pointed out by the organization, the monthly recomposition is explained by the industrial sector, where confidence rose 1.3% driven by more encouraging future expectations than in May. In it tradeConfidence, on the other hand, fell 0.2% compared to May, basically due to a less favorable assessment of the current situation made by the businessmen consulted.
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In the interannual comparison, compared to June 2022, the confidence of industrialists fell 12.7% while, in merchants, it was 7.2% lower. “The industrialist today perceives a stronger deterioration in the situation that his company is going through compared to a year ago, and that explains the high rate of decline,” It indicated.
In this way, SMEs worked in June with confidence levels of 56.7 points, using a scale of 0 to 100 as a reference, where 0 is no confidence and 100 full confidence. In other words, the gap with a full confidence level is 43.3 points. The confidence of SME entrepreneurs had a slight increase in June, rising 0.4% compared to May, although it is 9.4% below in the comparison with respect to the previous year. The full report can be seen by clicking here.