The economic trend indicator (ETI) fell to 105.9 in June from 110.3 in May. The June result was the weakest since March 2021. Thus, the index approached the mark of 100 points, but remained above it. Values above 100 indicate stronger economic growth than usual, while values below 100 indicate weaker economic growth than usual.
The drop came amid deteriorating confidence in both the manufacturing and retail subsectors. Meanwhile, business confidence fell to 111.6 in June from 114.7 in May. Similarly, the consumer confidence sub-indicator fell to 65.5 from 71.3 the previous month.
FocusEconomics Consensus Forecast forecast fixed investment to rise 2.1% in 2022, down 0.8 percentage points from last month’s forecast, and 1.9% in 2023. 1.4% in 2023.