The Vistage Argentina Business Confidence Index was 91 points in the third quarter of 2025, which is 13 points less than what was recorded in the second quarter of the year, and the third consecutive drop since the peak of 124 points recorded in the last quarter of 2024.
The study, which had the participation of 393 business leaders (CEOs, General Managers, and business owners from Argentina), originated as the Vistage Confidence Index in the United States, in the first quarter of 2003, where it positioned itself as the only and largest general report on the projections of CEOs and leaders of small and medium-sized businesses in that country. In Argentina, it has been conducted since 2006, and since then, Vistage has been consulting senior executives and business leaders quarterly to learn about their projections and level of confidence in business.
“This survey reflects a moderation in sentiment compared to the previous quarter, but it is important that we look at the complete perspective. A cautious optimism is observed in the internal management of companies, which shows us the resilience of the sector: even in the face of economic uncertainty, which is indicated as the main concern, our CEOs are focused on the expansion and growth of their own organization,” said Guadalupe San Martín, CEO of Vistage Argentina.
Recent Past and Future
When asked about how the Argentine economy performed in the last year, 25% of the business leaders who participated in the survey responded that the scenario improved, 50% that it worsened, and 25% that it remained unchanged. When asked what they think will happen in the next twelve months, 45% said the economic situation will improve; 33% that there will be no changes; and 22%, that it will worsen.
Regarding projections for their companies in the next 12 months, 51% are confident that the volume of units sold will increase; 34% emphasize that it will remain the same; and 15%, that it will decrease.
When asked about profitability, 40% of the surveyed business leaders responded that it will decrease, 36% that there will be no changes, and 24% that profitability will increase.
Regarding investment in fixed assets, 54% indicated it will remain unchanged, 29% that it will increase, and 18% that it will decrease. As for turnover, 52% estimated it will increase, 36% that it will remain the same, and 12% that it will decrease.
The behavior of prices for /services was another aspect consulted in the Vistage Business Confidence Index. 48% of business leaders believe that in the next 12 months they will remain the same, 35% that prices will increase, and 17%, that they will decrease.
Regarding the number of employees, 52% said it will remain the same, 30% that it will increase, and 18% that it may be lower than the current one.
When the question was what is the most important business problem companies are currently facing, 37% of the participating business leaders considered it to be economic uncertainty (concerns about the local or international economy, public finances, etc.). This was followed in importance by financial issues (financing, cash flow, profitability) with 21%, and higher costs (energy, raw materials, wages, etc.) with 18%.
Other problems mentioned were growth (too slow or too fast) at 10% and personnel (finding, hiring, retaining, training) at 9%.
Finally, when asked about the behavior of the annual 2025 inflation, the majority opined that it will be 41% (9 points more than what they forecast in the previous Business Confidence Index) and commented that the exchange rate will be at $1620 per dollar (official) on December 31, 2025 (130 pesos more than stipulated in the second quarter Index).
Interested parties can consult the full report here.
Cover image: /Pixabay
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Vistage Argentina Business Confidence IndexVistage Argentina Business Confidence Index third quarter 2025
