Firms optimistic about the near future
The Economic Tendency Indicator fell for a third month from 110.8 in February to 109.2 in March due to a decline in the manufacturing and consumer indicators. However, it still points to much stronger sentiment in the economy than normal, and all the sector indicators are above or well above their historical averages.The confidence indicator for the manufacturing industry fell 3.3 points in March but remains much higher than normal. The decrease was due primarily to less optimistic production plans for the next few months. The indicator for the building and civil engineering industry, on