Analysis business confidence index of Ecuador
DOI:
https://doi.org/10.29076/issn.2528-7737vol17iss45.2024pp%25ppKeywords:
ICE, economy, sectors, growth, developmentAbstract
Today, business confidence has made it possible for many companies to believe in their capabilities. On the other hand, the lack of confidence can also have negative effects on their economic development. For this reason, the main objective of this study is to analyze business confidence in the economic sectors of Ecuador, which are made up of: commerce, industry, construction, and services, in the period from 2010 to 2022, using mainly secondary data from the Central Bank of Ecuador (BCE). Two levels of research were carried out: descriptive statistics to summarize, organize and identify the variability of the data over time; and an explanatory study through the application of an ANOVA variance test with which it was possible to detect significant differences between groups. The main findings state that business confidence, in each sector, evidenced significant differences in the means of the Ecuadorian Business Confidence Index (ICE), which points to the presence of factors or events that have impacted business confidence during the period examined. Between 2010 and 2022, the business confidence index in the trade sector grew steadily, with a more pronounced increase after 2014. Industry maintained stable growth until 2015, as did the services sector. In contrast, construction experienced growth until 2014, followed by a decline.
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