Private sector business leaders expect a notable increase in investment during the second half of 2025 compared to the first half of the year, according to an investment opinion survey in the manufacturing industries published Monday, September 8, 2025, by the National Institute of Statistics (INS).
The survey, conducted in May 2025 with a sample of 1,030 companies operating in manufacturing, shows that the net business outlook balance regarding investment rose to 8% in the first half of 2025, compared to 18% projected for the second half of 2025.
Results from the industrial enterprises’ opinion balance revealed an improvement in overall investment growth during the first half of 2025, with the balance reaching 17%, up from 13% in H2 2024.
Investment trends by sector
The semi-annual survey highlighted sectoral differences. Several industries recorded improved investment, particularly mechanical and electrical industries (rising from 6% in H2 2024 to 22% in H1 2025), construction materials, ceramics and glass (from 3% to 15%), and chemical industries (from 10% to 18%).
Conversely, investment declined in other industrial sectors (from 29% to 5%). In the agri-food sector, business leaders reported stability.
For H2 2025, companies anticipate increased investment in chemicals (from 7% to 28%), agri-food and agriculture (from 8% to 24%), and mechanical and electrical industries (from 6% to 23%).
However, they expect a decline in overall industrial sectors (from 30% to 9%) and in construction materials, ceramics and glass (from 0% to –2%). Investment in textiles, clothing and leather is expected to remain stable.
In short, H1 2025 saw an improved outlook balance for industrial investment, marking a progressive return to positive growth after a period of decline.
For H2 2025, industrial business leaders project further improvement in investment sentiment.
