The Central Bank of Malta published the latest results from its business dialogue with non-financial corporations, indicating that overall business conditions in the second quarter of 2025 remained positive but varied by sector. The economy-wide net share of respondents reporting an expansion in activity was 22%, below levels recorded in the past three years but slightly higher than in the previous survey round. Service-oriented firms recorded the highest net share of companies experiencing expansion. Conditions were also positive on balance in manufacturing and in construction and real estate, while wholesale and retail firms reported overall negative conditions. Looking ahead, firms reported a more optimistic near-term outlook than their assessment of recent performance, with a net 33% expecting an improvement in short-term activity, down slightly from 35% in the previous quarter. Service providers reported the most favourable outlook, followed by manufacturing.
Central Bank of Malta 2025-07-24
Central Bank of Malta business dialogue shows Q2 2025 conditions remain positive with services strongest and wholesale and retail contracting
The Central Bank of Malta's latest business dialogue results show positive but sectorally varied business conditions in Q2 2025, with a 22% net share of respondents reporting activity expansion. Service-oriented firms led in expansion, while wholesale and retail faced negative conditions. Firms are optimistic about the near-term outlook, with a net 33% expecting improvement, slightly down from the previous quarter.