The BER’s business confidence measure for Q1 2025 remained unchanged from Q4 2024, at 45 points. This follows three prior consecutive quarters of improved readings.

Despite the unchanged business confidence print, sentiment in four of the five surveyed sectors worsened in the first quarter of this year.

As such, a remarkable improvement, and a multi-year high, in ‘new vehicle dealers’, to 52 points in Q1 2025 from 23 points in Q4 2024, offset the decline in the other sectors.

Regarding the other surveyed sectors, ‘manufacturing’ slipped by -2 points in Q1 to 34 points, while ‘building contractors’ decreased by -6 points to 45 points. Signicantly, ‘wholesale’ declined by a notable -18 points to 42 points.

These readings indicate that less than 50% of respondents in the abovementioned sectors are satisfied with business conditions.

Finally, sentiment in the ‘retail’ sector fell to 50 points in Q1 2025 from 54 points in Q4 2024. However, notwithstanding this dip in confidence, the industry continued to perform well during Q1.