|
|
|
|
|
|
Credit Market Survey 1/, percent of companies
|
|
|
|
|
|
|
Total
|
|
|
|
|
|
|
Total Financing
|
|
|
|
|
|
|
|
|
Bank Credit Market 3/
|
|
|
|
|
|
|
|
|
Perception about the most pressing problem faced by the company in the quarter
|
|
|
|
|
|
|
Most pressing problem faced by the company in the quarter
|
|
|
|
|
|
|
|
|
Sales
|
Structure observations of Sales
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
41.50
|
42.50
|
42.00
|
|
|
|
|
|
|
|
|
|
Competition
|
Structure observations of Competition
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
14.30
|
13.20
|
11.30
|
|
|
|
|
|
|
|
|
|
Acces to financing
|
Structure observations of Acces to financing
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
2.20
|
2.00
|
2.10
|
|
|
|
|
|
|
|
|
|
Regulatory and tax framework
|
Structure observations of Regulatory and tax framework
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
5.70
|
6.30
|
5.40
|
|
|
|
|
|
|
|
|
|
Production costs
|
Structure observations of Production costs
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
7.20
|
6.20
|
8.30
|
|
|
|
|
|
|
|
|
|
Labor availability
|
Structure observations of Labor availability
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
3.70
|
5.20
|
3.30
|
|
|
|
|
|
|
|
|
|
Availability of inputs (raw materials, energy, etc.)
|
Structure observations of Availability of inputs (raw materials, energy, etc.)
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
2.80
|
2.20
|
4.40
|
|
|
|
|
|
|
|
|
|
Unsafety
|
Structure observations of Unsafety
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
5.70
|
8.20
|
9.20
|
|
|
|
|
|
|
|
|
|
Others
|
Structure observations of Others
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
3.20
|
2.20
|
1.20
|
|
|
|
|
|
|
|
|
|
None
|
Structure observations of None
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
13.80
|
12.00
|
12.90
|
|
|
|
|
|
|
|
|
|
|
By size
|
|
|
|
|
|
|
Up to 100 workers
|
|
|
|
|
|
|
Total Financing
|
|
|
|
|
|
|
|
|
Bank Credit Market 3/
|
|
|
|
|
|
|
|
|
Perception about the most pressing problem faced by the company in the quarter
|
|
|
|
|
|
|
Most pressing problem faced by the company in the quarter
|
|
|
|
|
|
|
|
|
Sales
|
Structure observations of Sales
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
42.20
|
43.60
|
42.90
|
|
|
|
|
|
|
|
|
|
Competition
|
Structure observations of Competition
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
14.60
|
13.40
|
11.20
|
|
|
|
|
|
|
|
|
|
Acces to financing
|
Structure observations of Acces to financing
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
2.30
|
1.90
|
2.20
|
|
|
|
|
|
|
|
|
|
Regulatory and tax framework
|
Structure observations of Regulatory and tax framework
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
4.90
|
6.00
|
5.20
|
|
|
|
|
|
|
|
|
|
Production costs
|
Structure observations of Production costs
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
7.10
|
5.80
|
8.20
|
|
|
|
|
|
|
|
|
|
Labor availability
|
Structure observations of Labor availability
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
3.50
|
5.30
|
3.20
|
|
|
|
|
|
|
|
|
|
Availability of inputs (raw materials, energy, etc.)
|
Structure observations of Availability of inputs (raw materials, energy, etc.)
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
2.60
|
1.70
|
4.20
|
|
|
|
|
|
|
|
|
|
Unsafety
|
Structure observations of Unsafety
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
5.30
|
8.10
|
8.80
|
|
|
|
|
|
|
|
|
|
Others
|
Structure observations of Others
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
3.20
|
2.00
|
1.00
|
|
|
|
|
|
|
|
|
|
None
|
Structure observations of None
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
14.30
|
12.20
|
13.10
|
|
|
|
|
|
|
|
|
|
|
More that 100 workers
|
|
|
|
|
|
|
Total Financing
|
|
|
|
|
|
|
|
|
Bank Credit Market 3/
|
|
|
|
|
|
|
|
|
Perception about the most pressing problem faced by the company in the quarter
|
|
|
|
|
|
|
Most pressing problem faced by the company in the quarter
|
|
|
|
|
|
|
|
|
Sales
|
Structure observations of Sales
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
35.90
|
34.10
|
35.00
|
|
|
|
|
|
|
|
|
|
Competition
|
Structure observations of Competition
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
12.10
|
12.20
|
11.40
|
|
|
|
|
|
|
|
|
|
Acces to financing
|
Structure observations of Acces to financing
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
2.20
|
2.30
|
1.10
|
|
|
|
|
|
|
|
|
|
Regulatory and tax framework
|
Structure observations of Regulatory and tax framework
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
11.60
|
8.70
|
6.90
|
|
|
|
|
|
|
|
|
|
Production costs
|
Structure observations of Production costs
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
7.60
|
9.50
|
9.00
|
|
|
|
|
|
|
|
|
|
Labor availability
|
Structure observations of Labor availability
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
5.40
|
4.20
|
4.00
|
|
|
|
|
|
|
|
|
|
Availability of inputs (raw materials, energy, etc.)
|
Structure observations of Availability of inputs (raw materials, energy, etc.)
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
4.00
|
5.80
|
5.80
|
|
|
|
|
|
|
|
|
|
Unsafety
|
Structure observations of Unsafety
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
8.40
|
9.50
|
12.20
|
|
|
|
|
|
|
|
|
|
Others
|
Structure observations of Others
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
2.70
|
3.30
|
3.20
|
|
|
|
|
|
|
|
|
|
None
|
Structure observations of None
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
10.10
|
10.40
|
11.50
|
|
|
|
|
|
|
|
|
|
|
|
By economic activity
|
|
|
|
|
|
|
Manufacturing
|
|
|
|
|
|
|
Total Financing
|
|
|
|
|
|
|
|
|
Bank Credit Market 3/
|
|
|
|
|
|
|
|
|
Perception about the most pressing problem faced by the company in the quarter
|
|
|
|
|
|
|
Most pressing problem faced by the company in the quarter
|
|
|
|
|
|
|
|
|
Sales
|
Structure observations of Sales
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
43.00
|
41.90
|
49.70
|
|
|
|
|
|
|
|
|
|
Competition
|
Structure observations of Competition
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
8.40
|
12.80
|
10.50
|
|
|
|
|
|
|
|
|
|
Acces to financing
|
Structure observations of Acces to financing
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
1.90
|
3.00
|
1.80
|
|
|
|
|
|
|
|
|
|
Regulatory and tax framework
|
Structure observations of Regulatory and tax framework
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
7.40
|
8.10
|
6.00
|
|
|
|
|
|
|
|
|
|
Production costs
|
Structure observations of Production costs
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
9.00
|
7.40
|
7.80
|
|
|
|
|
|
|
|
|
|
Labor availability
|
Structure observations of Labor availability
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
5.00
|
6.70
|
3.20
|
|
|
|
|
|
|
|
|
|
Availability of inputs (raw materials, energy, etc.)
|
Structure observations of Availability of inputs (raw materials, energy, etc.)
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
3.30
|
4.60
|
7.90
|
|
|
|
|
|
|
|
|
|
Unsafety
|
Structure observations of Unsafety
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
6.90
|
3.70
|
4.40
|
|
|
|
|
|
|
|
|
|
Others
|
Structure observations of Others
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
3.00
|
2.80
|
0.60
|
|
|
|
|
|
|
|
|
|
None
|
Structure observations of None
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
12.10
|
9.10
|
8.20
|
|
|
|
|
|
|
|
|
|
|
Bussines services and trade
|
|
|
|
|
|
|
Total Financing
|
|
|
|
|
|
|
|
|
Bank Credit Market 3/
|
|
|
|
|
|
|
|
|
Perception about the most pressing problem faced by the company in the quarter
|
|
|
|
|
|
|
Most pressing problem faced by the company in the quarter
|
|
|
|
|
|
|
|
|
Sales
|
Structure observations of Sales
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
41.30
|
42.90
|
40.40
|
|
|
|
|
|
|
|
|
|
Competition
|
Structure observations of Competition
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
16.10
|
13.50
|
11.50
|
|
|
|
|
|
|
|
|
|
Acces to financing
|
Structure observations of Acces to financing
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
2.20
|
1.70
|
2.10
|
|
|
|
|
|
|
|
|
|
Regulatory and tax framework
|
Structure observations of Regulatory and tax framework
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
5.20
|
5.80
|
5.20
|
|
|
|
|
|
|
|
|
|
Production costs
|
Structure observations of Production costs
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
6.50
|
6.00
|
8.50
|
|
|
|
|
|
|
|
|
|
Labor availability
|
Structure observations of Labor availability
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
3.20
|
4.80
|
3.40
|
|
|
|
|
|
|
|
|
|
Availability of inputs (raw materials, energy, etc.)
|
Structure observations of Availability of inputs (raw materials, energy, etc.)
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
2.70
|
1.70
|
3.60
|
|
|
|
|
|
|
|
|
|
Unsafety
|
Structure observations of Unsafety
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
5.40
|
9.10
|
10.30
|
|
|
|
|
|
|
|
|
|
Others
|
Structure observations of Others
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
3.30
|
2.10
|
1.20
|
|
|
|
|
|
|
|
|
|
None
|
Structure observations of None
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
14.20
|
12.50
|
13.80
|
|
|
|
|
|
|
|
|
|
|
Construction
|
|
|
|
|
|
|
Total Financing
|
|
|
|
|
|
|
|
|
Bank Credit Market 3/
|
|
|
|
|
|
|
|
|
Perception about the most pressing problem faced by the company in the quarter
|
|
|
|
|
|
|
Most pressing problem faced by the company in the quarter
|
|
|
|
|
|
|
|
|
Sales
|
Structure observations of Sales
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
38.80
|
38.50
|
41.30
|
|
|
|
|
|
|
|
|
|
Competition
|
Structure observations of Competition
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
7.10
|
10.30
|
9.70
|
|
|
|
|
|
|
|
|
|
Acces to financing
|
Structure observations of Acces to financing
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
4.00
|
3.20
|
3.80
|
|
|
|
|
|
|
|
|
|
Regulatory and tax framework
|
Structure observations of Regulatory and tax framework
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
6.70
|
8.80
|
6.10
|
|
|
|
|
|
|
|
|
|
Production costs
|
Structure observations of Production costs
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
12.60
|
6.10
|
6.60
|
|
|
|
|
|
|
|
|
|
Labor availability
|
Structure observations of Labor availability
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
7.40
|
7.00
|
2.70
|
|
|
|
|
|
|
|
|
|
Availability of inputs (raw materials, energy, etc.)
|
Structure observations of Availability of inputs (raw materials, energy, etc.)
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
2.60
|
1.70
|
3.90
|
|
|
|
|
|
|
|
|
|
Unsafety
|
Structure observations of Unsafety
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
5.90
|
9.60
|
7.20
|
|
|
|
|
|
|
|
|
|
Others
|
Structure observations of Others
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
1.90
|
1.20
|
3.40
|
|
|
|
|
|
|
|
|
|
None
|
Structure observations of None
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
13.10
|
13.70
|
15.30
|
|
|
|
|
|
|
|
|
|
|
|
By geografic region 2/
|
|
|
|
|
|
|
North
|
|
|
|
|
|
|
Total Financing
|
|
|
|
|
|
|
|
|
Bank Credit Market 3/
|
|
|
|
|
|
|
|
|
Perception about the most pressing problem faced by the company in the quarter
|
|
|
|
|
|
|
Most pressing problem faced by the company in the quarter
|
|
|
|
|
|
|
|
|
Sales
|
Structure observations of Sales
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
21.20
|
27.70
|
26.60
|
|
|
|
|
|
|
|
|
|
Competition
|
Structure observations of Competition
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
27.20
|
22.20
|
11.90
|
|
|
|
|
|
|
|
|
|
Acces to financing
|
Structure observations of Acces to financing
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
0.00
|
0.20
|
0.00
|
|
|
|
|
|
|
|
|
|
Regulatory and tax framework
|
Structure observations of Regulatory and tax framework
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
6.90
|
6.00
|
6.60
|
|
|
|
|
|
|
|
|
|
Production costs
|
Structure observations of Production costs
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
8.40
|
12.10
|
8.60
|
|
|
|
|
|
|
|
|
|
Labor availability
|
Structure observations of Labor availability
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
4.70
|
3.40
|
7.80
|
|
|
|
|
|
|
|
|
|
Availability of inputs (raw materials, energy, etc.)
|
Structure observations of Availability of inputs (raw materials, energy, etc.)
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
3.70
|
6.30
|
7.40
|
|
|
|
|
|
|
|
|
|
Unsafety
|
Structure observations of Unsafety
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
4.50
|
3.30
|
9.40
|
|
|
|
|
|
|
|
|
|
Others
|
Structure observations of Others
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
3.10
|
1.20
|
0.40
|
|
|
|
|
|
|
|
|
|
None
|
Structure observations of None
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
20.50
|
17.70
|
21.30
|
|
|
|
|
|
|
|
|
|
|
North central
|
|
|
|
|
|
|
Total Financing
|
|
|
|
|
|
|
|
|
Bank Credit Market 3/
|
|
|
|
|
|
|
|
|
Perception about the most pressing problem faced by the company in the quarter
|
|
|
|
|
|
|
Most pressing problem faced by the company in the quarter
|
|
|
|
|
|
|
|
|
Sales
|
Structure observations of Sales
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
35.60
|
39.40
|
31.10
|
|
|
|
|
|
|
|
|
|
Competition
|
Structure observations of Competition
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
8.30
|
9.60
|
8.10
|
|
|
|
|
|
|
|
|
|
Acces to financing
|
Structure observations of Acces to financing
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
1.40
|
1.40
|
1.00
|
|
|
|
|
|
|
|
|
|
Regulatory and tax framework
|
Structure observations of Regulatory and tax framework
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
8.00
|
10.80
|
7.40
|
|
|
|
|
|
|
|
|
|
Production costs
|
Structure observations of Production costs
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
14.20
|
4.20
|
8.20
|
|
|
|
|
|
|
|
|
|
Labor availability
|
Structure observations of Labor availability
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
4.10
|
6.60
|
4.20
|
|
|
|
|
|
|
|
|
|
Availability of inputs (raw materials, energy, etc.)
|
Structure observations of Availability of inputs (raw materials, energy, etc.)
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
6.10
|
0.40
|
6.70
|
|
|
|
|
|
|
|
|
|
Unsafety
|
Structure observations of Unsafety
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
7.30
|
15.10
|
18.00
|
|
|
|
|
|
|
|
|
|
Others
|
Structure observations of Others
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
3.60
|
3.60
|
4.10
|
|
|
|
|
|
|
|
|
|
None
|
Structure observations of None
|
Jul-Sep 2025
|
Oct-Dec 2025
|
Jan-Mar 2026
|
|
11.60
|
9.00
|
11.20
|
|
|
|
|
|
|
|
|
|
|
Central
|
|
|
|
|
|
|
Total Financing
|
|
|
|
|
|
|
|
|
Bank Credit Market 3/
|
|
| | | | |