El crecimiento del volumen de ventas en los El crecimiento del volumen de ventas en los

últimos doce meses comparado con el próximos doce meses, comparado con el
crecimiento del volumen de ventas en los doce crecimiento en los pasados 12 meses, se espera
meses anteriores fue: sea:

Mayor Menor El mismo Balance Mayor Menor El mismo

Oct-05 66.3 11.5 22.2

Nov-05 70.0 8.8 21.2
Dec-05 46.5 19.1 34.4 27.4 73.9 6.4 19.7
Jan-06 46.7 26.2 27.1 20.5 78.4 6.5 15.1
Feb-06 43.6 28.5 27.9 15.1 74.4 8.9 16.7
Mar-06 46.1 23.6 30.3 22.5 73.9 6.9 19.2
Apr-06 46.3 25.0 28.8 21.3 74.7 7.4 17.9
May-06 43.4 27.2 29.4 16.2 73.1 8.7 18.1
Jun-06 46.3 22.7 31.0 23.6 74.4 7.6 18.0
Jul-06 47.7 22.5 29.8 25.1 74.3 7.3 18.4
Aug-06 49.4 24.5 26.1 24.9 72.4 8.0 19.6
Sep-06 51.4 21.1 27.6 30.3 71.3 7.8 20.9
Oct-06 54.6 18.5 26.9 36.1 71.8 7.3 20.9
Nov-06 51.9 21.8 26.3 30.1 77.3 5.8 16.9
Dec-06 50.3 23.4 26.3 26.9 80.0 4.9 15.1
Jan-07 42.0 28.1 29.9 13.9 78.7 5.9 15.3
Feb-07 43.0 27.2 29.8 15.8 77.0 5.6 17.4
Mar-07 43.6 23.8 32.6 19.8 77.8 5.7 16.5
Apr-07 41.0 28.5 30.5 12.5 74.8 7.4 17.8
May-07 44.9 26.9 28.2 18.1 71.5 8.5 20.0
Jun-07 46.8 25.0 28.2 21.8 73.6 7.9 18.6
Jul-07 45.2 23.5 31.4 21.7 72.8 6.5 20.8
Aug-07 42.6 26.7 30.7 15.9 73.4 7.7 18.9
Sep-07 43.6 26.4 30.0 17.2 72.7 8.6 18.7
Oct-07 48.0 25.3 26.7 22.7 74.5 7.4 18.1
Nov-07 43.6 26.4 30.0 17.2 72.7 8.6 18.7
Dec-07 46.9 26.5 26.5 20.4 78.0 4.7 17.3
Jan-08 36.1 30.3 33.6 5.8 74.8 7.6 17.6
Feb-08 39.6 31.8 28.7 7.8 72.8 6.7 20.5
Mar-08 39.2 34.5 26.3 4.7 69.9 8.5 21.6
Apr-08 35.8 38.7 25.6 -2.9 69.3 12.0 18.7
May-08 31.6 42.6 25.8 -11.1 65.5 14.7 19.8
Jun-08 29.4 46.6 24.0 -17.2 62.8 14.3 22.9
Jul-08 35.0 41.0 24.0 -6.0 64.6 15.6 19.8
Aug-08 31.0 43.8 25.2 -12.9 60.6 17.4 22.0
Sep-08 32.3 43.6 24.1 -11.3 58.3 20.0 21.8
Oct-08 33.0 44.5 22.5 -11.4 59.5 18.1 22.3
Nov-08 32.5 44.1 23.4 -11.6 60.6 17.2 22.1
Dec-08 30.5 44.8 24.7 -14.3 61.3 17.1 21.6
Jan-09 22.7 54.4 22.9 -31.8 58.3 21.6 20.1
Feb-09 23.0 54.7 22.3 -31.7 52.8 23.2 24.1
Mar-09 21.4 57.5 21.2 -36.1 48.3 29.3 22.4
Apr-09 27.0 52.0 21.0 -25.0 51.8 23.8 24.3
May-09 24.0 54.2 21.8 -30.2 52.8 23.8 23.4
Jun-09 22.1 54.2 23.7 -32.1 53.0 24.2 22.8
Jul-09 28.5 50.6 20.8 -22.1 54.3 21.4 24.3
Aug-09 26.7 51.0 22.3 -24.2 52.6 19.1 28.3
Sep-09 25.8 51.6 22.6 -25.8 54.6 21.9 23.5
Oct-09 23.9 50.4 25.7 -26.4 58.7 17.0 24.3
Nov-09 29.9 47.0 23.1 -17.1 62.5 13.7 23.8
Dec-09 31.1 42.5 26.5 -11.4 67.7 11.9 20.4
Jan-10 27.5 44.5 27.9 -17.0 64.8 11.6 23.6
Feb-10 30.1 42.8 27.2 -12.7 63.7 12.5 23.9
Mar-10 30.0 42.7 27.3 -12.7 61.4 13.1 25.5
Apr-10 31.3 38.5 30.2 -7.3 66.0 12.7 21.3
May-10 32.4 39.4 28.2 -7.0 62.4 13.8 23.7
Jun-10 34.5 38.0 27.5 -3.5 67.6 11.5 20.9
Jul-10 31.2 40.2 28.6 -9.0 62.9 11.2 25.9
Aug-10 37.8 35.4 26.8 2.3 67.4 10.1 22.5
Sep-10 37.5 35.5 27.0 2.0 67.7 11.9 20.4
Oct-10 38.2 33.9 27.8 4.3 65.2 9.5 25.3
Nov-10 38.8 33.2 28.0 5.6 67.1 8.8 24.0
Dec-10 39.9 33.0 27.1 6.9 70.0 6.7 23.3
Jan-11 35.6 33.1 31.3 2.5 72.3 6.1 21.5
Feb-11 36.0 33.8 30.2 2.1 70.1 7.3 22.5
Mar-11 37.2 32.5 30.3 4.7 67.5 8.9 23.6
Apr-11 39.8 31.5 28.8 8.3 69.6 8.5 21.9
May-11 38.1 29.0 32.8 9.1 69.3 8.2 22.5
Jun-11 43.5 28.4 28.2 15.1 68.4 8.4 23.3
Jul-11 42.3 28.0 29.7 14.3 69.6 8.1 22.2
Aug-11 43.8 28.4 27.8 15.5 68.2 9.8 22.0
Sep-11 44.6 27.9 27.4 16.7 69.7 7.6 22.7
Oct-11 56.9 24.4 18.7 32.5 74.0 6.8 19.2
Nov-11 58.2 19.3 22.5 38.9 72.0 6.2 21.8
Dec-11 57.9 22.6 19.5 35.3 78.1 4.8 17.0
Jan-12 52.8 23.2 24.0 29.6 79.1 5.1 15.8
Feb-12 48.6 25.6 25.8 22.9 80.9 4.9 14.3
Mar-12 46.8 26.6 26.6 20.1 76.6 7.0 16.4
Apr-12 45.6 30.7 23.6 14.9 72.5 9.5 18.0
May-12 46.9 27.5 25.6 19.5 68.7 9.5 21.8
Jun-12 41.7 31.3 27.0 10.3 71.4 11.2 17.4
Jul-12 48.4 28.8 22.8 19.7 68.4 10.3 21.2
Aug-12 45.6 29.1 25.3 16.5 69.1 9.0 21.9
Sep-12 42.7 30.9 26.4 11.8 70.2 11.9 17.9
Oct-12 44.1 30.0 25.9 14.1 68.4 9.6 22.1
Nov-12 44.5 31.8 23.8 12.7 73.9 7.3 18.9
Dec-12 48.4 30.9 20.7 17.5 74.4 6.0 19.6
Jan-13 36.5 37.6 25.8 -1.1 70.2 8.5 21.3
Feb-13 35.4 38.8 25.8 -3.4 71.9 10.5 17.6
Mar-13 32.9 41.2 25.9 -8.3 68.6 10.2 21.2
Apr-13 40.3 37.2 22.5 3.1 67.3 10.0 22.7
May-13 37.7 37.3 25.0 0.4 64.3 13.9 21.8
Jun-13 43.1 34.2 22.7 8.9 65.3 12.7 22.0
Jul-13 44.0 34.0 22.0 10.0 66.2 12.2 21.6
Aug-13 36.3 37.7 26.0 -1.5 63.3 13.2 23.4
Sep-13 41.6 35.3 23.1 6.4 64.7 10.2 25.1
Oct-13 46.4 31.3 22.4 15.1 68.2 8.5 23.3
Nov-13 46.2 30.9 22.9 15.3 70.9 7.8 21.3
Dec-13 47.6 32.4 20.0 15.3 75.1 5.1 19.8
Jan-14 45.3 32.2 22.5 13.1 74.5 6.0 19.5
Feb-14 42.2 29.6 28.2 12.5 74.9 6.4 18.7
Mar-14 47.3 26.0 26.7 21.3 73.6 4.9 21.5
Apr-14 45.0 28.1 26.9 16.9 70.2 7.6 22.1
May-14 46.9 26.9 26.2 20.0 70.7 7.5 21.8
Jun-14 47.6 27.1 25.3 20.5 71.6 6.0 22.4
Jul-14 47.6 28.4 24.0 19.3 71.8 9.3 18.9
Aug-14 51.6 26.0 22.4 25.6 71.5 8.0 20.5
Sep-14 50.5 27.1 22.4 23.5 70.2 8.2 21.6
Oct-14 51.2 24.0 24.9 27.2 71.7 5.4 22.9
Nov-14 54.0 25.3 20.7 28.7 71.3 7.3 21.5
Dec-14 60.9 21.6 17.5 39.3 76.0 5.8 18.2
Jan-15 46.4 28.4 25.3 18.0 73.1 6.9 20.0
Feb-15 44.5 31.5 24.0 13.1 69.6 11.6 18.7
Mar-15 42.4 32.4 25.3 10.0 68.2 9.8 22.0
Apr-15 45.6 32.7 21.6 12.9 67.5 11.8 20.7
May-15 44.7 30.9 24.4 13.8 68.5 11.5 20.0
Jun-15 47.3 33.1 19.6 14.2 66.9 14.0 19.1
Jul-15 46.9 32.4 20.7 14.5 62.7 15.6 21.6
Aug-15 49.8 29.2 21.0 20.7 63.6 14.9 21.6
Sep-15 49.4 29.0 21.6 20.3 67.7 11.8 20.5
Oct-15 49.5 28.7 21.8 20.7 69.1 9.3 21.6
Nov-15 55.1 27.3 17.6 27.8 70.0 8.5 21.5
Dec-15 58.5 28.0 13.5 30.5 68.9 9.6 21.5
Jan-16 47.5 33.1 19.5 14.4 67.6 12.7 19.6
Feb-16 48.0 32.2 19.8 15.8 71.3 11.8 16.9
Mar-16 43.8 34.2 22.0 9.6 66.9 12.2 20.9
Apr-16 45.6 33.8 20.5 11.8 66.2 12.2 21.6
May-16 44.7 32.4 22.9 12.4 66.0 11.8 22.2
Jun-16 43.6 34.5 22.0 9.1 62.6 15.4 22.0
Jul-16 42.2 37.8 20.0 4.4 63.6 12.7 23.6
Aug-16 43.6 34.5 21.8 9.1 62.4 12.5 25.1
Sep-16 43.8 36.2 20.0 7.6 65.6 12.0 22.4
Oct-16 45.3 35.3 19.5 10.0 68.0 11.8 20.2
Nov-16 47.3 35.5 17.3 11.8 68.4 10.0 21.6
Dec-16 52.5 33.3 14.2 19.3 73.1 8.5 18.4
Jan-17 41.6 40.7 17.6 0.9 71.3 10.0 18.7
Feb-17 38.0 39.8 22.2 -1.8 64.2 12.9 22.9
Mar-17 37.5 41.1 21.5 -3.6 64.4 14.7 20.9
Apr-17 32.2 49.5 18.4 -17.3 58.7 17.1 24.2
May-17 34.8 45.4 19.8 -10.5 61.5 15.2 23.2
Jun-17 34.4 46.5 19.1 -12.2 62.4 15.3 22.4
Jul-17 34.5 46.2 19.3 -11.6 61.1 16.5 22.4
Aug-17 35.1 44.7 20.2 -9.6 59.5 16.5 24.0
Sep-17 36.9 46.0 17.1 -9.1 60.9 15.5 23.6
Oct-17 32.2 44.0 23.8 -11.8 60.9 15.1 24.0
Nov-17 36.2 42.7 21.1 -6.5 63.1 11.5 25.5
Dec-17 41.6 41.6 16.8 0.0 69.7 10.5 19.8
Jan-18 37.1 43.9 19.1 -6.8 68.0 11.0 21.0
Feb-18 39.1 40.2 20.7 -1.1 66.5 11.6 21.8
Mar-18 37.8 40.4 21.8 -2.5 64.5 12.9 22.5
Apr-18 39.8 39.8 20.4 0.0 67.8 11.3 20.9
May-18 37.2 40.5 22.3 -3.3 66.1 11.1 22.9
Jun-18 34.4 41.5 24.2 -7.1 67.5 10.7 21.8
Jul-18 37.3 41.1 21.6 -3.8 64.4 12.9 22.7
Aug-18 40.5 36.2 23.3 4.4 64.2 10.9 24.9
Sep-18 39.8 35.1 25.1 4.7 66.4 9.6 24.0
Oct-18 43.0 36.7 20.3 6.4 69.3 10.5 20.1
Nov-18 45.5 33.1 21.5 12.4 75.3 5.5 19.3
Dec-18 46.0 34.9 19.1 11.1 73.1 6.7 20.2
Jan-19 41.3 38.4 20.4 2.9 75.3 8.4 16.4
Feb-19 41.5 33.9 24.6 7.6 73.0 9.2 17.8
Mar-19 45.6 31.6 22.9 14.0 72.6 9.8 17.6
Apr-19 43.6 31.6 24.7 12.0 69.3 9.6 21.1
May-19 44.1 32.3 23.6 11.8 71.7 7.4 20.9
Jun-19 46.1 30.3 23.6 15.8 66.8 10.7 22.5
Jul-19 47.1 30.0 22.9 17.1 66.5 10.2 23.3
Aug-19 47.6 30.7 21.6 16.9 68.2 7.6 24.2
Sep-19 50.0 29.8 20.2 20.2 72.5 7.5 20.0
Oct-19 49.5 28.2 22.4 21.3 71.6 9.1 19.3
Nov-19 51.5 28.4 20.2 23.1 73.6 6.2 20.2
Dec-19 58.5 25.3 16.2 33.3 77.6 6.5 15.8
Jan-20 51.8 28.7 19.5 23.1 74.0 8.2 17.8
feb-20 ⁽²⁾ 45.7 30.0 24.3 15.8 51.2 27.6 21.2

Notas:
- Las cifras se presentan en porcentaje sobre el total de encuestados
- El balance se calcula como la diferencia entre el porcentaje de respuestas positivas y el de respuestas negativas.
* Suma de las opciones "Algo de dificultad" y "Mucha dificultad"
(1) A partir del mes de septiembre de 2018 la serie histórica de la pregunta 10. "El incremento de los precios de los productos
comparado con el incremento de los costos operacionales en los próximos doce meses, se espera que sea:"
(2) Debido a la cuarentena nacional obligatoria aplicada desde el 24 de marzo de 2020 (en Bogotá desde el 20 de marzo, con
EMEE se vio seriamente afectado. Por esta razón, la medición recolectada durante el mes de marzo de 2020 (cuyo mes de re
encuestas efectivas, que corresponde al 70% del tamaño de la muestra que normalmente se incluye (550).
men de ventas en los
El nivel de inversión en maquinaria y equipo en El número de trabajadores de tiempo completo
s, comparado con el
los próximos 12 meses, comparado con el nivel que su empresa piensa emplear en los próximos
os 12 meses, se espera
de los pasados 12 meses, se espera sea: 12 meses, comparado con el número actual será:
:

Balance Mayor Menor El mismo Balance Mayor Menor El mismo

54.8 32.1 21.2 46.7 11.0 34.2 10.5 55.4

61.2 34.7 19.8 45.5 14.9 31.5 11.0 57.6
67.5 34.2 18.2 47.6 16.0 34.2 8.3 57.5
72.0 34.7 17.7 47.6 17.0 32.7 10.9 56.5
65.5 30.3 16.7 53.0 13.6 31.8 11.8 56.4
67.0 31.4 17.2 51.4 14.2 30.9 10.2 59.0
67.3 29.5 16.1 54.4 13.4 31.1 7.6 61.3
64.4 31.2 16.5 52.3 14.7 30.1 7.1 62.8
66.8 32.3 16.0 51.7 16.3 29.0 6.4 64.6
67.0 32.4 14.9 52.7 17.5 30.0 8.4 61.6
64.4 33.9 14.7 51.4 19.2 30.1 8.3 61.5
63.5 28.5 14.3 57.2 14.2 28.1 7.3 64.6
64.5 35.5 11.9 52.6 23.6 27.8 8.8 63.4
71.5 33.4 14.0 52.6 19.4 27.9 10.0 62.1
75.1 35.8 14.7 49.5 21.1 31.0 8.0 61.0
72.8 31.4 13.5 55.1 17.8 31.4 8.5 60.2
71.3 31.6 12.2 56.3 19.4 29.2 7.4 63.3
72.2 29.3 13.2 57.5 16.1 27.3 7.3 65.4
67.3 30.7 13.6 55.7 17.1 26.5 10.7 62.8
63.0 29.1 12.5 58.5 16.6 26.4 7.2 66.4
65.7 30.0 12.3 57.7 17.7 28.0 6.4 65.5
66.3 33.5 13.4 53.0 20.1 25.6 6.8 67.6
65.8 30.3 12.3 57.4 18.0 29.1 7.5 63.5
64.1 30.3 12.2 57.5 18.1 27.8 7.2 65.0
67.1 33.6 11.4 55.1 22.2 29.8 7.9 62.3
64.1 30.3 12.2 57.5 18.1 27.8 7.2 65.0
73.3 32.4 11.8 55.8 20.5 29.1 9.3 61.6
67.2 29.2 15.8 55.0 13.4 26.1 8.3 65.5
66.1 29.2 16.2 54.6 13.1 25.4 9.8 64.8
61.3 27.6 15.8 56.6 11.8 23.0 10.9 66.1
57.4 25.6 16.5 57.9 9.1 21.8 11.6 66.6
50.8 25.0 21.4 53.5 3.6 22.7 11.6 65.7
48.5 23.0 23.2 53.7 -0.2 20.3 15.2 64.4
49.0 23.4 23.0 53.5 0.4 21.6 12.3 66.1
43.1 24.1 23.6 52.3 0.5 23.1 14.1 62.9
38.3 24.1 23.4 52.5 0.7 19.2 15.1 65.7
41.4 20.1 25.4 54.4 -5.3 20.1 13.8 66.1
43.4 24.9 23.8 51.4 1.1 20.0 15.8 64.2
44.3 25.0 22.9 52.1 2.2 16.5 17.1 66.4
36.7 20.3 27.6 52.1 -7.3 15.1 18.0 67.0
29.6 17.5 26.0 56.5 -8.6 13.9 20.5 65.6
19.0 17.2 30.9 51.9 -13.6 11.5 22.1 66.4
28.0 17.3 31.9 50.8 -14.5 13.3 21.2 65.5
29.0 17.5 28.1 54.4 -10.6 13.6 19.0 67.4
28.7 18.9 28.0 53.1 -9.2 14.4 18.3 67.3
32.9 22.4 26.4 51.1 -4.0 15.4 17.0 67.6
33.5 19.6 27.8 52.6 -8.2 15.5 17.5 67.0
32.7 18.1 30.8 51.1 -12.6 16.4 18.9 64.8
41.7 17.4 23.4 59.2 -6.0 15.2 16.8 67.9
48.8 20.7 23.1 56.2 -2.3 21.8 13.0 65.2
55.8 23.8 20.2 56.0 3.6 22.9 12.6 64.5
53.1 22.0 22.0 56.0 0.0 17.7 14.5 67.8
51.2 20.2 20.7 59.1 -0.6 18.9 14.5 66.6
48.3 19.7 20.3 60.0 -0.5 19.2 11.7 69.1
53.3 21.6 19.8 58.5 1.8 19.3 13.1 67.6
48.6 20.9 19.4 59.7 1.4 19.8 13.3 66.9
56.2 22.9 18.4 58.7 4.5 19.1 9.8 71.1
51.7 23.8 18.0 58.2 5.8 21.4 9.4 69.2
57.4 24.8 15.8 59.4 9.0 20.1 9.0 70.9
55.9 24.0 16.4 59.6 7.6 20.7 10.3 69.0
55.7 24.8 15.6 59.6 9.2 20.3 9.5 70.2
58.3 26.5 16.2 57.2 10.3 23.8 9.7 66.4
63.4 27.1 13.2 59.7 13.9 24.2 9.4 66.4
66.2 26.0 13.2 60.8 12.8 22.8 9.9 67.3
62.8 25.8 14.0 60.3 11.8 21.8 10.2 68.0
58.6 23.2 16.3 60.4 6.9 19.8 9.4 70.8
61.1 27.5 13.6 59.0 13.9 21.9 8.5 69.6
61.2 25.2 14.0 60.8 11.3 22.0 6.9 71.1
60.0 29.8 14.4 55.8 15.5 22.4 5.5 72.2
61.5 26.6 17.2 56.2 9.4 22.1 6.7 71.2
58.4 25.8 15.1 59.1 10.7 26.7 6.5 66.7
62.1 27.6 13.6 58.8 14.0 27.2 6.9 65.9
67.1 34.8 15.4 49.7 19.4 31.6 6.1 62.3
65.8 32.5 14.0 53.5 18.5 28.9 5.5 65.6
73.3 34.4 12.4 53.2 22.0 33.9 6.5 59.7
74.0 38.8 16.7 44.6 22.1 32.1 7.0 60.9
76.0 32.3 15.5 52.2 16.8 26.0 6.3 67.7
69.6 30.9 17.4 51.6 13.5 26.3 5.9 67.8
63.1 31.3 14.2 54.5 17.1 27.8 7.3 64.9
59.3 30.9 19.3 49.8 11.6 23.8 8.5 67.6
60.1 27.7 17.4 54.9 10.3 23.4 8.2 68.5
58.1 28.4 17.9 53.6 10.5 26.9 8.3 64.8
60.0 29.1 19.9 51.0 9.2 25.3 7.4 67.3
58.2 31.3 19.3 49.4 11.9 27.8 8.5 63.7
58.8 32.5 14.8 52.6 17.7 26.0 8.5 65.5
66.6 29.9 17.4 52.6 12.5 26.3 9.1 64.6
68.4 33.1 14.7 52.2 18.4 29.8 6.9 63.3
61.6 29.1 19.5 51.5 9.6 26.4 8.7 64.9
61.3 26.0 19.1 55.0 6.9 26.5 11.1 62.4
58.4 25.3 20.9 53.8 4.5 23.4 10.0 66.6
57.4 23.8 21.2 55.0 2.5 24.1 9.1 66.8
50.4 26.1 22.3 51.6 3.8 24.5 10.7 64.8
52.5 28.0 20.2 51.8 7.8 21.8 9.6 68.5
54.0 26.2 21.1 52.7 5.1 24.4 7.5 68.2
50.1 27.9 22.1 49.9 5.8 22.1 9.3 68.6
54.5 26.4 20.5 53.1 5.8 23.1 9.6 67.3
59.6 26.5 18.5 54.9 8.0 26.9 8.4 64.7
63.1 27.6 16.5 55.8 11.1 23.8 8.4 67.8
70.0 32.2 14.9 52.9 17.3 27.6 7.6 64.7
68.5 25.8 18.0 56.2 7.8 24.0 7.8 68.2
68.5 25.3 17.5 57.3 7.8 27.3 7.5 65.3
68.7 26.2 16.9 56.9 9.3 26.5 6.7 66.7
62.6 24.7 17.2 58.1 7.4 22.3 8.5 69.1
63.3 26.5 17.5 56.0 9.1 22.5 7.3 70.2
65.6 26.5 18.9 54.5 7.6 22.7 7.3 70.0
62.5 28.0 18.4 53.6 9.6 22.5 8.4 69.1
63.5 25.8 16.9 57.3 8.9 24.2 8.5 67.3
62.0 25.1 17.3 57.6 7.8 24.2 7.5 68.4
66.2 24.5 14.3 61.2 10.2 26.1 7.6 66.2
64.0 27.5 14.7 57.8 12.7 22.4 8.5 69.1
70.2 29.6 14.7 55.6 14.9 28.2 7.6 64.2
66.2 27.6 16.2 56.2 11.5 25.5 7.3 67.3
58.0 24.5 20.4 55.1 4.2 23.5 9.8 66.7
58.4 25.3 20.9 53.8 4.4 21.6 11.3 67.1
55.6 23.5 20.5 56.0 2.9 20.9 8.9 70.2
57.1 20.9 21.3 57.8 -0.4 21.8 9.5 68.7
52.9 22.9 22.7 54.4 0.2 22.9 9.1 68.0
47.1 21.8 22.5 55.6 -0.7 21.1 10.9 68.0
48.7 24.1 21.2 54.7 2.9 24.3 9.2 66.5
55.9 25.6 18.7 55.7 6.9 24.0 8.3 67.7
59.8 26.7 18.9 54.4 7.8 25.8 7.8 66.4
61.5 27.5 18.9 53.6 8.5 22.2 8.0 69.8
59.3 24.4 18.4 57.3 6.0 25.5 8.2 66.4
54.9 25.6 19.8 54.5 5.8 23.8 10.0 66.2
59.5 22.4 18.4 59.3 4.0 21.5 8.0 70.5
54.7 22.9 18.2 58.9 4.7 22.5 9.6 67.8
54.0 20.5 22.0 57.5 -1.5 18.7 10.7 70.5
54.2 21.5 21.5 57.1 0.0 20.7 9.1 70.2
47.2 18.1 20.1 61.7 -2.0 18.0 8.3 73.7
50.9 18.5 21.5 60.0 -2.9 16.4 9.3 74.4
49.8 19.5 17.6 62.9 1.8 18.4 10.4 71.3
53.6 24.7 18.9 56.4 5.8 17.5 10.7 71.8
56.2 23.3 18.5 58.2 4.7 20.5 9.8 69.6
58.4 21.1 18.4 60.5 2.7 19.5 9.6 70.9
64.5 21.6 17.6 60.7 4.0 25.6 9.1 65.3
 61.3 22.0 19.5 58.5 2.5 23.3 6.7 70.0
51.3 18.7 20.2 61.1 -1.5 21.5 12.5 66.0
49.6 21.8 21.3 56.9 0.5 20.2 11.1 68.7
41.6 19.6 24.7 55.6 -5.1 18.0 13.3 68.7
46.3 22.3 23.8 53.9 -1.5 17.1 12.9 70.1
47.1 19.6 24.0 56.4 -4.4 20.2 11.1 68.7
44.5 20.4 25.1 54.5 -4.7 20.2 14.7 65.1
42.9 18.7 23.8 57.5 -5.1 18.4 14.5 67.1
45.5 18.9 23.6 57.5 -4.7 18.2 13.1 68.7
45.8 22.2 21.8 56.0 0.4 18.0 11.6 70.4
51.6 24.7 22.0 53.3 2.7 18.7 12.7 68.5
59.3 23.4 20.9 55.7 2.5 21.6 10.3 68.1
57.0 21.0 23.0 55.9 -2.0 20.7 12.1 67.3
54.9 18.0 23.8 58.2 -5.8 14.7 11.8 73.5
51.6 17.3 23.3 59.5 -6.0 17.5 12.2 70.4
56.5 20.5 22.4 57.1 -1.8 20.9 11.1 68.0
55.0 20.5 23.6 55.9 -3.1 16.7 10.5 72.8
56.7 21.8 20.2 58.0 1.6 18.2 10.0 71.8
51.5 16.4 23.6 60.0 -7.3 20.7 11.5 67.8
53.3 20.5 20.4 59.1 0.2 20.2 9.6 70.2
56.7 22.7 19.5 57.8 3.3 21.6 9.1 69.3
58.8 22.0 19.4 58.6 2.5 19.4 10.9 69.7
69.8 23.6 16.0 60.4 7.6 18.9 9.1 72.0
66.4 24.4 17.3 58.4 7.1 22.4 9.5 68.2
66.9 24.0 16.2 59.8 7.8 20.5 10.4 69.1
63.8 21.4 17.0 61.6 4.3 19.6 9.8 70.7
62.8 22.0 21.8 56.3 0.2 19.1 9.1 71.9
59.6 19.1 22.2 58.7 -3.1 19.8 11.1 69.1
64.2 22.7 18.1 59.2 4.5 17.4 8.7 73.9
56.1 25.0 21.1 53.9 4.0 20.5 8.7 70.8
56.4 21.1 18.5 60.4 2.5 16.7 8.7 74.5
60.5 24.5 18.0 57.5 6.5 19.5 7.8 72.7
65.1 24.2 18.4 57.5 5.8 23.3 6.7 70.0
62.5 25.8 16.4 57.8 9.5 22.5 9.5 68.0
67.5 29.1 16.2 54.7 12.9 26.4 8.0 65.6
71.1 29.8 13.1 57.1 16.7 29.6 7.8 62.5
65.8 29.8 13.8 56.4 16.0 26.9 6.7 66.4
23.5 21.7 23.0 55.3 -1.3 16.5 18.3 65.1

e respuestas negativas.

to de los precios de los productos que venderán en los próximos doce meses,
espera que sea:" fue corregida.
Bogotá desde el 20 de marzo, con el simulacro vital), el trabajo de campo de la
de marzo de 2020 (cuyo mes de referencia es febrero de 2020) contiene 387
e incluye (550).
 ¿Enfrenta su empresa
“cuellos de botella” por
dificultad para En las condiciones actuales, ¿cree usted que su
es de tiempo completo
conseguir los empresa enfrente dificultades para suplir un Los incrementos salariales en
mplear en los próximos
empleados u obreros aumento inesperado en la demanda o venta de meses afectarán su re
n el número actual será:
necesarios para poder sus productos?
suplir la demanda de
sus productos?

Más que en
Ninguna Algo de Mucha Total de
Balance SI No los últimos
dificultad dificultad dificultad dificultad*
12 meses

23.7 28.3 71.7 59.4 35.2 5.4 40.6 19.9

20.5 23.0 77.0 69.1 27.7 3.2 30.9 21.0
25.9 25.2 74.8 73.0 24.4 2.6 27.0 18.6
21.8 20.8 79.2 60.3 33.6 6.1 39.7 16.1
20.0 23.0 77.0 64.2 30.3 5.4 35.8 15.1
20.7 24.1 75.9 62.6 30.7 6.7 37.4 13.1
23.5 21.0 79.0 63.3 29.8 6.9 36.7 14.3
23.0 22.1 77.9 63.3 30.5 6.2 36.7 13.8
22.7 22.0 78.0 57.4 35.8 6.9 42.6 15.4
21.6 23.8 76.2 60.9 34.1 5.0 39.1 13.6
21.8 24.0 76.0 62.6 32.3 5.1 37.4 15.4
20.9 22.5 77.5 62.1 31.6 6.4 37.9 14.2
19.0 22.7 77.3 63.9 31.5 4.6 36.1 15.9
18.0 20.0 80.0 58.6 34.8 6.5 41.4 13.8
23.0 21.1 78.9 61.0 35.2 3.8 39.0 14.7
22.9 20.5 79.5 60.4 34.8 4.9 39.6 13.3
21.8 20.1 79.9 62.1 32.1 5.8 37.9 11.1
20.0 20.7 79.3 65.0 29.3 5.7 35.0 11.9
15.8 18.9 81.1 61.3 33.4 5.3 38.7 12.2
19.1 20.2 79.8 63.0 33.4 3.6 37.0 12.5
21.6 22.1 77.9 61.6 33.4 5.0 38.4 13.4
18.8 20.4 79.6 63.8 31.4 4.8 36.2 12.7
21.6 19.6 80.4 64.9 30.3 4.8 35.1 13.5
20.6 18.9 81.1 65.4 29.3 5.4 34.6 13.1
21.8 22.2 77.8 62.8 33.2 4.0 37.2 14.3
20.6 18.9 81.1 65.4 29.3 5.4 34.6 13.1
19.8 22.0 78.0 63.1 32.7 4.2 36.9 14.7
17.8 22.1 77.9 64.1 30.5 5.4 35.9 13.8
15.6 23.2 76.8 62.4 31.9 5.6 37.6 13.1
12.2 19.2 80.8 63.2 32.8 4.0 36.8 14.5
10.2 22.9 77.1 60.6 32.5 6.9 39.4 15.2
11.1 19.1 80.9 59.3 33.0 7.6 40.7 14.7
5.1 20.0 80.0 59.3 33.6 7.1 40.7 12.9
9.3 18.7 81.3 61.9 32.3 5.8 38.1 18.7
9.0 21.5 78.5 63.4 28.7 7.9 36.6 16.0
 4.2 19.4 80.6 59.7 31.9 8.3 40.3 14.9
6.4 17.1 82.9 63.3 31.0 5.6 36.7 17.8
4.2 18.1 81.9 59.3 35.2 5.4 40.7 19.6
-0.5 16.9 83.1 63.5 30.1 6.4 36.5 24.5
-2.9 16.5 83.5 60.6 31.9 7.4 39.4 20.3
-6.6 14.3 85.7 63.8 30.7 5.5 36.2 17.5
-10.6 15.3 84.7 63.0 30.0 7.0 37.0 18.5
-7.9 15.4 84.6 63.2 31.0 5.8 36.8 19.3
-5.4 18.4 81.6 62.8 29.7 7.5 37.2 15.4
-3.9 14.0 86.0 71.6 23.5 4.8 28.4 23.3
-1.6 14.4 85.6 69.2 25.2 5.6 30.8 19.8
-2.0 13.0 87.0 63.6 29.2 7.1 36.4 18.5
-2.5 14.8 85.2 62.5 29.9 7.7 37.5 18.5
-1.6 14.9 85.1 70.2 23.4 6.4 29.8 17.0
8.8 15.3 84.7 67.7 24.1 8.1 32.3 13.5
10.3 16.9 83.1 60.9 33.7 5.3 39.1 14.9
3.2 15.2 84.8 67.1 27.7 5.2 32.9 16.3
4.4 16.3 83.7 63.9 29.7 6.4 36.1 13.9
7.5 16.3 83.7 65.7 27.6 6.6 34.3 15.8
6.2 18.2 81.8 65.6 29.3 5.1 34.4 11.8
6.5 15.6 84.4 62.9 31.1 5.9 37.1 14.4
9.3 16.5 83.5 64.9 30.2 4.9 35.1 11.1
12.1 17.1 82.9 66.7 27.4 5.9 33.3 14.1
11.2 14.7 85.3 68.0 26.1 5.9 32.0 14.4
10.5 15.0 85.0 66.8 27.2 5.9 33.2 12.8
10.8 14.7 85.3 68.0 26.2 5.7 32.0 13.3
14.1 16.6 83.4 65.7 28.7 5.6 34.3 14.4
14.8 15.9 84.1 66.1 28.9 5.1 33.9 14.6
12.8 15.2 84.8 68.7 26.6 4.7 31.3 15.2
11.6 17.2 82.8 64.4 30.9 4.7 35.6 15.0
10.3 16.3 83.7 66.8 28.3 4.9 33.2 13.1
13.4 13.6 86.4 66.5 27.8 5.6 33.5 12.1
15.1 18.0 82.0 65.9 29.8 4.4 34.1 14.3
16.9 17.5 82.5 69.5 25.8 4.7 30.5 10.4
15.4 19.2 80.8 67.5 27.7 4.9 32.5 11.8
20.2 18.9 81.1 69.5 25.6 4.9 30.5 12.7
20.3 21.6 78.4 67.5 26.5 6.0 32.5 12.9
25.5 21.9 78.1 61.8 33.9 4.3 38.2 14.9
23.5 20.9 79.1 66.2 31.1 2.7 33.8 16.5
27.4 22.4 77.6 65.4 29.9 4.7 34.6 19.4
25.1 22.8 77.2 66.3 31.8 1.9 33.7 14.9
19.7 17.3 82.7 65.7 30.0 4.3 34.3 17.0
20.3 18.2 81.8 63.8 33.1 3.1 36.2 13.5
20.5 19.3 80.7 66.0 31.1 2.9 34.0 14.0
15.3 22.9 77.1 64.0 33.1 2.9 36.0 14.4
15.2 17.9 82.1 64.1 31.9 4.0 35.9 13.6
18.6 17.9 82.1 67.2 30.2 2.6 32.8 15.0
17.9 18.3 81.7 64.4 32.5 3.1 35.6 15.9
19.3 21.0 79.0 62.2 34.2 3.6 37.8 15.4
17.5 21.3 78.7 61.3 34.2 4.5 38.7 17.4
17.2 18.3 81.7 65.5 31.2 3.3 34.5 16.3
22.9 19.6 80.4 67.6 29.5 2.9 32.4 17.5
17.6 18.9 81.1 63.6 30.9 5.5 36.4 17.6
15.4 21.4 78.6 63.0 31.2 5.8 37.0 15.6
13.4 20.3 79.7 66.0 29.0 5.0 34.0 16.6
15.1 18.1 81.9 62.8 32.7 4.5 37.2 16.3
13.8 20.9 79.1 61.4 34.1 4.5 38.6 18.4
12.2 19.5 80.5 62.9 33.8 3.3 37.1 17.1
16.9 16.7 83.3 66.2 30.5 3.3 33.8 16.9
12.9 18.3 81.7 61.0 32.7 6.4 39.0 16.3
13.5 18.4 81.6 65.3 31.5 3.3 34.7 16.4
18.5 19.6 80.4 64.0 31.1 4.9 36.0 17.5
15.5 20.0 80.0 66.0 30.7 3.3 34.0 17.5
20.0 20.5 79.5 64.7 32.4 2.9 35.3 18.7
16.2 16.9 83.1 65.3 32.0 2.7 34.7 19.5
19.8 18.5 81.5 62.5 34.2 3.3 37.5 15.3
19.8 20.0 80.0 65.5 32.2 2.4 34.5 12.7
13.8 19.1 80.9 68.6 28.3 3.1 31.4 13.1
15.3 20.4 79.6 66.5 30.5 2.9 33.5 15.1
15.5 18.7 81.3 67.1 30.0 2.9 32.9 13.1
14.2 20.7 79.3 65.6 29.5 4.9 34.4 17.6
15.6 16.9 83.1 64.5 32.2 3.3 35.5 17.3
16.7 20.7 79.3 62.0 34.4 3.6 38.0 18.7
18.5 22.3 77.7 63.2 33.6 3.3 36.8 19.6
13.8 20.9 79.1 63.5 32.0 4.5 36.5 21.3
20.5 20.9 79.1 64.9 32.5 2.5 35.1 22.7
18.2 19.6 80.4 65.1 31.6 3.3 34.9 22.9
13.6 22.0 78.0 59.1 35.3 5.6 40.9 21.8
10.4 22.5 77.5 62.0 32.7 5.3 38.0 20.0
12.0 24.0 76.0 58.0 36.7 5.3 42.0 20.4
12.4 24.0 76.0 62.2 34.0 3.8 37.8 18.5
13.8 20.7 79.3 60.5 35.3 4.2 39.5 23.3
10.2 21.5 78.5 60.0 34.5 5.5 40.0 20.9
15.0 21.0 79.0 59.2 34.4 6.3 40.8 23.2
15.6 23.2 76.8 63.2 32.8 4.0 36.8 25.2
18.0 25.3 74.7 59.6 36.2 4.2 40.4 29.6
14.2 24.9 75.1 60.5 34.9 4.5 39.5 31.6
17.3 20.4 79.6 59.1 34.9 6.0 40.9 36.2
13.8 19.5 80.5 61.8 32.0 6.2 38.2 29.1
13.5 20.5 79.5 62.9 31.6 5.5 37.1 26.7
12.9 20.7 79.3 62.2 33.3 4.5 37.8 25.1
8.0 21.3 78.7 59.1 36.4 4.5 40.9 23.1
11.6 22.2 77.8 62.4 33.1 4.5 37.6 25.3
9.6 20.3 79.7 59.3 32.1 8.5 40.7 24.1
7.1 20.2 79.8 62.5 33.1 4.4 37.5 24.0
8.0 23.5 76.5 59.3 35.5 5.3 40.7 23.3
6.7 20.7 79.3 61.3 32.5 6.2 38.7 25.8
10.7 22.4 77.6 58.2 36.5 5.3 41.8 28.0
9.8 25.1 74.9 57.3 37.8 4.9 42.7 31.5
16.5 24.5 75.5 58.7 36.2 5.1 41.3 30.4
16.5 22.0 78.0 59.8 35.6 4.5 40.2 28.2
8.9 20.0 80.0 57.5 37.3 5.3 42.5 24.7
9.1 19.8 80.2 57.6 36.4 6.0 42.4 24.4
4.7 18.0 82.0 60.9 33.3 5.8 39.1 23.5
4.2 18.9 81.1 64.1 29.9 6.0 35.9 20.1
9.1 19.1 80.9 61.8 32.9 5.3 38.2 27.6
5.5 20.7 79.3 63.5 31.1 5.5 36.5 25.1
3.8 20.7 79.3 62.7 32.2 5.1 37.3 27.6
5.1 18.9 81.1 63.6 31.8 4.5 36.4 28.9
6.4 17.8 82.2 61.5 32.4 6.2 38.5 25.1
6.0 18.9 81.1 61.8 35.8 2.4 38.2 28.7
11.4 19.6 80.4 61.4 35.1 3.4 38.6 25.4
8.6 22.5 77.5 63.3 33.3 3.4 36.7 25.5
2.9 22.9 77.1 56.2 39.6 4.2 43.8 23.6
5.3 21.3 78.7 63.1 32.4 4.5 36.9 23.6
9.8 22.4 77.6 58.7 37.1 4.2 41.3 20.0
6.2 20.0 80.0 61.2 35.2 3.6 38.8 18.5
8.2 21.3 78.7 64.4 31.8 3.8 35.6 18.7
9.3 20.7 79.3 59.1 36.9 4.0 40.9 22.5
10.5 21.1 78.9 61.8 34.5 3.6 38.2 21.8
12.5 18.5 81.5 62.0 32.5 5.5 38.0 24.7
8.5 21.6 78.4 59.5 36.5 4.0 40.5 28.1
9.8 21.5 78.5 61.5 35.1 3.5 38.5 29.5
12.9 22.2 77.8 63.8 33.5 2.7 36.2 28.5
10.2 22.0 78.0 61.1 33.3 5.6 38.9 25.3
9.8 21.7 78.3 62.3 32.4 5.3 37.7 21.9
10.0 18.3 81.7 59.3 36.3 4.4 40.7 20.9
8.7 20.4 79.6 62.0 33.8 4.2 38.0 18.4
8.7 18.1 81.9 60.8 33.8 5.4 39.2 22.7
11.8 18.7 81.3 62.6 33.4 4.0 37.4 22.0
8.0 20.7 79.3 61.3 35.6 3.1 38.7 21.1
11.6 17.5 82.5 63.1 32.7 4.2 36.9 23.5
16.5 20.7 79.3 61.8 35.6 2.5 38.2 22.2
13.1 21.6 78.4 60.5 34.7 4.7 39.5 24.5
18.4 21.3 78.7 62.2 34.2 3.6 37.8 25.6
21.8 24.4 75.6 60.4 35.8 3.8 39.6 24.0
20.2 21.1 78.9 61.5 33.6 4.9 38.5 24.7
-1.8 17.8 82.2 53.5 32.6 14.0 46.5 29.5

Los incrementos salariales en los próximos doce
meses afectarán su rentabilidad:
El incremento de los precios
El incremento en los precios de las materias
que venderá en los próxim
primas que comprará en los próximos doce
comparado con el incremen
meses, comparado con el incremento de los
operacionales en los últimos
últimos doce meses, se espera que sea:
espera que sea

Menos que
Igual que
en los
en los
últimos Balance Mayor Menor El mismo Balance Mayor
últimos 12
doce
meses
meses

5.4 74.7 14.5 48.2 11.5 40.3 36.7

5.2 73.7 15.8 41.0 6.3 52.7 34.7
3.9 77.6 14.7 48.9 5.1 46.0 43.8
5.9 78.0 10.1 45.8 9.4 44.8 36.3
4.9 80.0 10.2 41.7 10.5 47.7 31.2
4.5 82.4 8.5 44.6 7.8 47.5 36.8
5.1 80.7 9.2 49.7 7.6 42.7 42.1
6.7 79.5 7.1 57.9 5.4 36.7 52.5
3.3 81.3 12.2 55.7 6.2 38.1 49.5
4.8 81.6 8.8 57.2 5.4 37.4 51.8
4.5 80.0 10.9 51.2 5.8 43.0 45.4
5.1 80.8 9.1 53.2 4.5 42.3 48.6
3.7 80.4 12.3 51.1 7.7 41.2 43.4
5.4 80.8 8.3 48.6 8.0 43.4 40.7
6.0 79.3 8.7 50.8 7.4 41.7 43.4
5.0 81.6 8.3 46.5 7.6 45.9 38.9
5.4 83.5 5.6 42.5 8.5 49.0 33.9
4.6 83.5 7.3 41.9 9.5 48.5 32.4
5.1 82.8 7.1 41.6 10.5 47.9 31.0
5.8 81.8 6.7 36.1 13.5 50.4 22.6
5.0 81.6 8.4 38.8 10.5 50.7 28.2
5.6 81.7 7.2 42.1 10.2 47.7 31.9
7.3 79.1 6.2 42.2 9.6 48.1 32.6
5.2 81.7 7.9 37.5 9.2 53.3 28.4
2.3 83.4 11.9 43.7 9.0 47.3 34.7
5.2 81.7 7.9 37.5 9.2 53.3 28.4
4.0 81.3 10.7 44.9 9.3 45.8 35.6
4.5 81.7 9.3 43.4 6.7 49.9 36.7
5.8 81.1 7.3 47.0 9.3 43.7 37.7
4.5 80.9 10.0 41.0 10.9 48.1 30.1
5.1 79.7 10.2 46.5 9.6 43.9 36.8
5.3 80.0 9.4 43.9 9.3 46.8 34.7
6.9 80.2 6.0 40.5 10.5 49.0 29.9
8.2 73.1 10.5 45.2 9.6 45.2 35.6
7.2 76.8 8.8 46.0 8.8 45.2 37.1
6.0 79.1 8.9 47.7 9.3 43.0 38.475
7.3 75.0 10.5 46.8 9.8 43.4 37.0
7.8 72.6 11.8 43.9 11.8 44.3 32.1
6.0 69.5 18.5 43.9 12.9 43.2 31.0
6.9 72.8 13.4 43.6 12.5 43.9 31.0
8.0 74.5 9.4 43.7 10.5 45.8 33.2
8.6 72.9 9.9 38.4 13.8 47.8 24.6
7.9 72.9 11.4 31.5 14.4 54.1 17.2
8.6 76.0 6.8 35.2 13.8 51.0 21.5
6.5 70.2 16.9 33.2 16.2 50.6 17.1
7.2 73.0 12.6 35.6 12.6 51.8 22.9
7.3 74.2 11.2 30.8 14.3 54.9 16.6
6.8 74.7 11.7 32.9 16.5 50.5 16.4
7.8 75.2 9.2 34.8 12.6 52.7 22.2
6.5 80.0 7.0 36.9 12.1 51.0 24.9
8.5 76.6 6.4 39.4 9.2 51.3 30.2
8.9 74.8 7.3 39.9 10.2 49.9 29.7
8.6 77.4 5.3 35.2 9.5 55.2 25.7
7.5 76.7 8.3 36.1 13.1 50.8 23.0
6.5 81.6 5.3 37.6 7.5 54.9 30.2
4.5 81.1 9.9 33.3 9.2 57.6 24.1
4.0 84.9 7.1 29.6 9.6 60.7 20.0
4.3 81.6 9.7 30.5 13.5 56.0 16.9
4.1 81.5 10.3 31.7 8.6 59.7 23.0
3.8 83.4 9.0 32.1 7.4 60.5 24.7
5.0 81.7 8.3 35.5 8.4 56.0 27.1
4.7 80.9 9.7 40.8 7.8 51.4 33.0
5.2 80.1 9.4 43.5 7.8 48.7 35.7
3.1 81.7 12.1 49.5 5.1 45.4 44.5
3.4 81.6 11.6 43.5 5.9 50.6 37.6
3.1 83.8 10.0 40.7 6.4 53.0 34.3
4.7 83.2 7.4 36.9 6.5 56.6 30.4
5.6 80.0 8.7 37.6 8.5 53.9 29.0
3.8 85.8 6.5 32.0 8.7 59.3 23.3
5.4 82.8 6.3 33.5 10.3 56.2 23.1
4.4 82.9 8.4 38.9 8.9 52.2 30.0
3.4 83.7 9.4 37.2 9.6 53.2 27.6
3.1 82.0 11.8 47.9 4.8 47.2 43.1
3.6 79.8 12.9 42.9 6.5 50.5 36.4
3.6 77.1 15.8 48.9 7.2 43.9 41.8
4.2 80.9 10.7 48.4 7.4 44.2 41.1
3.2 79.8 13.7 41.9 8.5 49.6 33.4
4.9 81.7 8.6 38.7 7.2 54.1 31.5
3.5 82.5 10.5 32.4 11.8 55.8 20.5
4.2 81.5 10.2 33.1 10.4 56.5 22.7
3.6 82.8 10.0 32.8 9.2 58.0 23.6
3.6 81.4 11.4 35.7 7.8 56.6 27.9
5.1 79.0 10.8 34.2 9.2 56.6 25.0
3.1 81.6 12.3 36.7 6.9 56.4 29.8
4.5 78.1 12.8 36.0 8.0 56.1 28.0
4.7 78.9 11.6 39.7 5.3 55.0 34.5
4.9 77.6 12.5 39.8 5.5 54.7 34.4
5.3 77.1 12.4 35.3 7.5 57.3 27.8
3.6 80.8 12.0 33.9 8.0 58.1 26.0
2.8 80.7 13.8 37.1 6.6 56.4 30.5
5.4 78.2 10.9 33.6 8.7 57.7 24.9
4.3 77.3 14.1 40.0 7.3 52.7 32.7
3.8 79.1 13.3 39.3 7.1 53.6 32.2
4.2 78.9 12.7 36.5 6.4 57.1 30.2
4.2 79.5 12.2 37.4 6.5 56.1 30.9
4.2 79.5 12.2 36.7 7.1 56.2 29.6
4.5 78.0 12.9 36.7 6.9 56.4 29.8
4.4 78.2 13.1 42.5 6.5 50.9 36.0
5.8 75.5 12.9 42.2 4.2 53.6 38.0
4.9 75.6 14.5 46.4 5.6 48.0 40.7
5.6 79.1 9.6 45.8 4.5 49.6 41.3
5.3 82.0 7.5 39.3 4.0 56.7 35.3
5.1 81.9 8.0 35.8 4.4 59.9 31.4
2.5 82.4 12.5 34.0 5.1 60.9 28.9
3.5 83.5 9.6 36.4 7.1 56.5 29.3
4.9 77.5 12.7 39.5 4.5 56.0 34.9
3.3 79.5 14.0 45.8 6.5 47.6 39.3
2.2 79.1 16.5 47.6 5.1 47.3 42.5 44.5
3.3 77.1 16.3 48.5 3.6 47.9 44.8 44.5
3.5 75.3 17.8 55.6 5.1 39.3 50.5 51.5
2.7 74.5 20.0 56.9 5.3 37.8 51.6 53.5
1.5 75.6 21.5 58.7 5.5 35.8 53.3 53.6
5.1 73.1 16.7 65.6 4.7 29.6 60.9 57.8
6.4 73.6 13.6 56.5 8.4 35.1 48.2 48.2
4.4 75.3 16.0 53.5 5.5 41.1 48.0 46.2
5.8 75.6 12.7 53.5 5.5 41.1 48.0 46.0
4.7 72.0 18.5 61.3 4.9 33.8 56.4 50.9
4.5 74.5 16.4 69.1 4.5 26.4 64.5 54.0
4.7 72.1 18.5 68.3 4.7 27.0 63.6 54.9
3.6 71.1 21.6 61.0 7.4 31.6 53.5 55.7
3.5 66.9 26.2 62.5 6.0 31.5 56.5 56.7
2.9 65.5 28.7 69.1 4.5 26.4 64.5 61.6
3.3 60.5 32.9 70.0 4.5 25.5 65.5 63.3
4.2 66.7 24.9 67.1 6.4 26.5 60.7 57.8
2.9 70.4 23.8 60.2 8.2 31.6 52.0 54.9
5.6 69.3 19.5 53.8 8.4 37.8 45.5 48.0
3.6 73.3 19.5 54.4 7.5 38.2 46.9 45.1
4.9 69.8 20.4 52.9 6.2 40.9 46.7 43.1
4.9 71.0 19.2 50.6 7.3 42.1 43.4 43.9
2.7 73.3 21.3 51.6 6.9 41.5 44.7 44.5
4.2 72.5 19.1 50.5 8.7 40.7 41.8 45.1
3.1 71.1 22.7 55.5 6.2 38.4 49.3 51.8
3.8 68.2 24.2 61.5 4.2 34.4 57.3 52.0
4.0 64.5 27.5 64.5 4.9 30.5 59.6 57.6
4.7 64.9 25.6 63.6 4.2 32.2 59.5 55.3
4.2 67.6 24.0 58.2 6.5 35.3 51.6 53.3
3.3 72.0 21.5 52.7 6.7 40.5 46.0 48.0
5.1 70.5 19.3 52.5 6.9 40.5 45.6 43.8
4.9 71.6 18.5 44.7 8.5 46.7 36.2 42.2
6.5 73.3 13.6 47.7 5.6 46.6 42.1 43.4
2.9 69.5 24.7 48.9 7.1 44.0 41.8 41.3
3.1 71.8 22.0 49.5 6.2 44.4 43.3 43.6
4.2 68.2 23.5 48.2 8.4 43.5 39.8 45.8
3.5 67.6 25.5 47.6 7.6 44.7 40.0 46.5
4.0 70.9 21.1 52.5 5.8 41.6 46.7 47.6
3.6 67.6 25.1 55.5 4.9 39.6 50.5 50.7
3.4 71.2 22.0 54.6 7.4 38.0 47.2 50.8
3.2 71.2 22.3 49.8 8.1 42.1 41.7 44.6
3.8 72.5 19.8 47.5 6.9 45.6 40.5 43.3
3.3 73.1 20.4 41.6 9.5 48.9 32.2 39.5
2.7 77.3 17.3 42.0 6.0 52.0 36.0 39.3
3.6 77.9 14.9 42.3 6.5 51.2 35.8 37.9
4.9 76.4 13.8 41.5 6.2 52.4 35.3 38.5
4.2 73.3 18.4 46.7 6.7 46.5 40.0 42.5
4.5 73.6 17.3 45.8 4.7 49.5 41.1 40.0
4.0 71.3 20.7 54.9 4.7 40.4 50.2 51.8
2.7 69.1 25.4 56.3 5.6 38.1 50.6 49.7
3.1 67.5 26.4 57.1 4.7 38.2 52.4 52.5
4.5 66.9 24.0 56.2 4.7 39.1 51.5 50.5
3.8 70.9 21.5 52.7 6.4 40.9 46.4 47.3
4.9 73.2 17.0 43.5 5.8 50.7 37.7 43.7
3.1 76.0 17.8 49.5 4.4 46.1 45.2 44.1
4.2 77.5 14.2 52.5 6.4 41.1 46.2 44.9
3.6 73.7 19.1 49.4 5.1 45.6 44.3 41.0
2.5 75.5 19.4 48.3 4.7 47.0 43.6 42.6
3.1 75.8 18.0 56.7 3.5 39.8 53.3 49.3
2.7 73.8 20.7 52.9 4.9 42.2 48.0 44.7
3.6 74.2 18.5 56.5 5.3 38.2 51.3 48.4
2.4 73.1 22.2 55.8 3.8 40.4 52.0 49.1
2.5 71.8 23.1 56.2 4.2 39.6 52.0 56.0
2.0 74.0 22.0 55.8 3.5 40.7 52.4 53.5
2.7 72.5 22.0 56.5 4.7 38.7 51.8 47.5
3.9 66.7 25.6 65.9 4.9 29.2 61.0 51.9
El incremento de los precios de los productos
El incremento en los precios de los productos El incremento en los precios
que venderá en los próximos doce meses,
que venderá en los próximos doce meses, importados en los próxim
comparado con el incremento de los costos
comparado con el incremento en los últimos comparado con el incremen
operacionales en los últimos doces meses, se
doce meses, se espera que sea: doce meses, se espe
espera que sea: (1)

Menor El mismo Balance Mayor Menor El mismo Balance Mayor

39.5 12.2 48.2 27.3

43.5 10.8 45.7 32.7
44.3 9.0 46.7 35.3 25.9
41.3 8.7 50.0 32.7 26.4
39.7 10.9 49.4 28.9 22.7
42.5 7.4 50.1 35.0 33.4
44.5 9.0 46.5 35.4 35.6
49.9 5.8 44.3 44.1 42.3
51.0 4.9 44.1 46.1 50.3
47.7 5.8 46.6 41.9 40.2
49.0 5.1 45.9 43.9 39.7
49.7 6.5 43.7 43.2 34.8
48.0 4.9 47.1 43.0 35.0
57.5 4.0 38.5 53.5 34.1
55.9 3.8 40.3 52.1 34.1
47.0 5.8 47.2 41.3 31.7
44.8 6.0 49.2 38.8 28.9
42.7 6.8 50.5 35.9 30.4
39.2 6.5 54.3 32.7 26.1
37.2 8.8 54.0 28.3 23.1
39.3 8.6 52.1 30.7 25.2
41.8 5.6 52.7 36.2 28.1
40.5 7.1 52.4 33.3 29.1
43.3 4.5 52.2 38.8 26.6
44.8 6.7 48.6 38.1 32.3
43.3 4.5 52.2 38.8 26.6
50.0 5.1 44.9 44.9 32.2
50.5 3.4 46.1 47.0 33.4
47.2 6.9 45.9 40.3 28.7
44.1 6.7 49.2 37.4 27.0
44.5 9.3 46.3 35.2 27.8
41.0 8.5 50.5 32.5 22.0
40.8 9.1 50.1 31.8 27.9
41.7 7.1 51.2 34.7 33.6
45.2 6.5 48.2 38.7 41.5
46.8 6.7 46.5 40.1 44.8
49.5 7.6 42.8 41.9 46.3
50.3 8.0 41.7 42.3 44.3
47.7 8.5 43.7 39.2 38.8
45.7 10.3 43.9 35.4 47.2
43.0 9.3 47.8 33.7 45.6
38.1 12.6 49.4 25.5 36.6
35.4 13.0 51.7 22.4 28.2
36.1 12.0 51.9 24.2 26.1
33.9 13.1 53.0 20.8 23.7
33.3 11.4 55.3 21.9 25.4
38.5 13.4 48.1 25.1 23.5
31.0 12.8 56.2 18.1 19.6
35.8 11.0 53.2 24.8 22.3
36.9 9.2 53.9 27.7 29.2
42.1 8.3 49.6 33.7 28.8
43.1 8.9 47.9 34.2 29.5
36.7 9.2 54.1 27.5 24.6
36.4 7.4 56.2 29.1 25.5
34.0 8.0 58.0 26.0 29.6
36.3 7.6 56.1 28.8 25.2
32.4 6.9 60.7 25.5 22.9
34.1 9.5 56.4 24.5 21.6
36.2 8.6 55.2 27.5 22.8
35.7 8.1 56.2 27.6 24.7
37.7 6.3 56.0 31.4 29.1
44.2 6.7 49.1 37.5 35.2
43.5 4.5 52.0 39.0 32.3
42.7 3.4 53.9 39.2 33.8
40.8 2.9 56.4 37.9 33.3
37.7 4.0 58.3 33.8 27.8
38.7 5.2 56.1 33.5 28.8
34.3 7.6 58.1 26.7 27.2
34.4 5.6 60.0 28.7 23.8
36.5 6.7 56.8 29.8 27.7
39.5 7.1 53.5 32.4 31.3
39.4 5.3 55.4 34.1 33.6
52.2 2.7 45.1 49.6 30.2
45.8 4.9 49.3 40.9 30.0
50.9 4.8 44.3 46.1 29.0
46.7 5.4 47.9 41.2 28.2
43.1 4.9 52.0 38.3 26.2
37.8 5.9 56.3 31.8 24.6
37.5 7.6 54.9 29.8 21.8
36.9 6.2 56.9 30.7 22.9
36.6 6.3 57.1 30.3 23.0
37.8 5.9 56.4 31.9 26.6
39.2 5.1 55.7 34.2 26.9
42.1 6.5 51.4 35.6 27.3
41.0 8.5 50.5 32.5 28.4
 43.7 6.5 49.7 37.2 27.2
41.3 5.5 53.3 35.8 23.8
40.9 6.5 52.5 34.4 27.8
38.5 6.5 55.0 31.9 28.7
36.6 6.4 57.1 30.2 29.1
36.5 5.6 57.9 30.9 28.5
40.9 7.7 51.4 33.2 38.9
41.1 8.2 50.7 32.9 32.9
39.1 6.5 54.4 32.5 30.0
40.1 6.5 53.4 33.6 32.3
41.1 6.4 52.5 34.7 29.8
42.4 7.6 50.0 34.7 31.5
45.1 5.6 49.3 39.5 34.4
48.4 3.1 48.5 45.3 38.4
50.0 3.5 46.5 46.5 45.5
42.5 4.7 52.7 37.8 46.9
45.1 3.6 51.3 41.5 33.6
36.8 4.7 58.4 32.1 29.6
37.5 4.9 57.6 32.5 28.5
38.7 4.5 56.7 34.2 26.4
42.2 5.5 52.4 36.7 32.5
48.9 5.5 45.6 43.5 40.7
4.5 50.9 40.0 49.1 4.2 46.7 44.9 43.6
6.7 48.8 37.7 48.8 4.4 46.8 44.5 47.4
2.9 45.6 48.5 57.1 2.7 40.2 54.4 54.7
4.2 42.4 49.3 58.7 3.3 38.0 55.5 57.1
5.8 40.5 47.8 58.7 5.1 36.2 53.6 60.2
5.8 36.4 52.0 59.1 4.2 36.7 54.9 67.3
7.3 44.5 40.9 54.0 4.2 41.8 49.8 57.8
7.6 46.2 38.5 49.5 6.5 44.0 42.9 53.3
7.5 46.5 38.5 47.3 5.1 47.6 42.2 52.0
6.5 42.5 44.4 55.5 4.4 40.2 51.1 61.6
8.0 38.0 46.0 60.7 5.5 33.8 55.3 69.5
5.6 39.5 49.3 62.0 4.9 33.2 57.1 68.1
7.3 37.0 48.5 58.4 3.6 37.9 54.8 60.1
5.1 38.2 51.6 60.0 4.2 35.8 55.8 56.4
4.7 33.6 56.9 65.6 3.8 30.5 61.8 64.5
4.7 32.0 58.5 67.6 3.8 28.5 63.8 65.5
5.3 36.9 52.5 61.1 5.1 33.8 56.0 64.7
6.0 39.1 48.9 57.1 4.7 38.2 52.4 54.5
5.5 46.5 42.5 49.8 5.8 44.4 44.0 44.9
5.8 49.1 39.3 45.5 5.8 48.7 39.6 49.3
8.2 48.7 34.9 45.8 7.3 46.9 38.5 46.5
6.4 49.7 37.6 49.9 5.1 45.0 44.8 44.3
5.5 50.0 39.1 49.5 6.0 44.5 43.5 44.4
5.1 49.8 40.0 48.9 3.6 47.5 45.3 39.8
4.9 43.3 46.9 52.4 5.5 42.2 46.9 43.5
5.6 42.4 46.4 55.5 4.4 40.2 51.1 54.7
6.4 36.0 51.3 62.5 4.5 32.9 58.0 53.3
6.2 38.5 49.1 61.5 4.2 34.4 57.3 49.8
 6.4 40.4 46.9 58.4 6.4 35.3 52.0 43.5
8.0 44.0 40.0 52.2 5.5 42.4 46.7 43.8
6.2 50.0 37.6 44.0 6.5 49.5 37.5 36.0
8.7 49.1 33.5 44.5 7.3 48.2 37.3 39.3
7.3 49.4 36.1 43.0 7.1 49.9 35.9 44.6
9.5 49.3 31.8 45.3 7.6 47.1 37.6 44.0
9.5 46.9 34.2 46.5 7.6 45.8 38.9 41.1
6.7 47.5 39.1 49.1 6.0 44.9 43.1 38.9
8.0 45.5 38.5 49.8 5.3 44.9 44.5 40.2
5.8 46.5 41.8 53.3 6.2 40.5 47.1 48.0
7.5 41.8 43.3 53.6 6.7 39.6 46.9 44.5
7.0 42.2 43.8 55.3 6.1 38.6 49.2 41.6
8.1 47.3 36.5 50.5 7.4 42.1 43.2 38.3
9.5 47.3 33.8 47.3 8.4 44.4 38.9 36.4
10.4 50.2 29.1 45.8 7.3 46.9 38.5 29.8
9.1 51.6 30.2 43.1 6.7 50.2 36.4 32.0
7.8 54.3 30.1 40.5 6.2 53.4 34.3 35.6
7.6 53.8 30.9 45.5 4.9 49.6 40.5 33.6
6.4 51.1 36.2 44.4 6.2 49.5 38.2 41.6
6.5 53.5 33.5 44.0 5.3 50.7 38.7 45.1
5.1 43.1 46.7 52.2 3.3 44.5 48.9 53.1
6.2 44.1 43.6 53.9 5.6 40.5 48.3 51.4
5.8 41.6 46.7 55.5 4.9 39.6 50.5 50.9
5.1 44.4 45.5 53.6 4.7 41.6 48.9 47.1
6.0 46.7 41.3 49.3 7.1 43.6 42.2 44.9
7.1 49.3 36.6 46.7 5.1 48.2 41.7 43.1
6.4 49.5 37.7 48.6 4.2 47.2 44.5 45.0
5.8 49.3 39.1 48.5 4.5 46.9 44.0 49.8
7.1 51.9 33.9 45.6 5.3 49.2 40.3 43.0
6.5 50.8 36.1 46.3 4.5 49.2 41.7 44.1
4.5 46.2 44.7 50.2 2.9 46.9 47.3 59.1
6.0 49.3 38.7 50.0 3.8 46.2 46.2 52.2
7.8 43.8 40.5 54.7 3.8 41.5 50.9 54.0
5.1 45.8 44.0 55.1 4.2 40.7 50.9 52.7
3.8 40.2 52.2 54.5 2.7 42.7 51.8 48.0
4.2 42.4 49.3 47.3 8.0 44.7 39.3 56.2
5.3 47.3 42.2 51.1 7.3 41.6 43.8 50.2
9.0 39.0 42.9 63.3 6.2 30.5 57.1 55.8
El incremento en los precios de los productos
importados en los próximos doce meses,
comparado con el incremento de los últimos
doce meses, se espera que sea

Menor El mismo Balance

18.0 56.1 7.9

23.4 50.2 3.0
25.0 52.3 -2.4
18.0 48.6 15.4
16.1 48.3 19.5
10.3 47.4 31.9
12.7 37.0 37.6
15.5 44.3 24.8
14.7 45.6 25.0
11.3 53.9 23.6
14.3 50.7 20.7
14.9 51.0 19.2
16.0 49.9 18.1
16.0 52.3 15.7
18.1 53.0 10.7
22.9 46.7 7.5
29.0 44.8 -2.9
30.5 46.4 -7.4
22.7 52.1 2.5
17.6 54.3 10.6
15.3 55.6 13.7
16.9 56.6 9.7
15.3 52.3 17.0
16.9 56.6 9.7
13.5 54.4 18.7
17.1 49.5 16.3
18.1 53.2 10.5
23.0 49.9 4.0
25.0 47.2 2.7
27.9 50.1 -6.0
21.6 50.5 6.4
15.6 50.8 18.0
11.1 47.4 30.5
13.1 42.1 31.8
11.4 42.3 34.8
10.7 45.0 33.6
11.4 49.7 27.4
12.3 40.5 34.8
12.3 42.1 33.3
16.2 47.2 20.5
19.6 52.2 8.6
21.1 52.8 5.0
25.0 51.3 -1.3
19.4 55.2 6.0
25.1 51.3 -1.6
30.2 50.2 -10.7
20.6 57.1 1.8
19.1 51.7 10.1
13.1 58.1 15.6
12.3 58.1 17.2
17.6 57.8 7.0
15.6 58.9 9.9
11.3 59.1 18.4
18.0 56.8 7.2
20.0 57.1 2.9
20.7 57.7 0.9
21.2 55.9 1.6
18.6 56.8 6.1
17.8 53.1 11.3
10.3 54.5 24.9
10.5 57.2 21.8
10.1 56.1 23.7
7.5 59.2 25.8
14.3 57.9 13.4
14.6 56.6 14.1
18.3 54.4 8.9
16.7 59.5 7.1
15.0 57.3 12.7
13.1 55.6 18.2
15.1 51.4 18.5
14.2 55.7 16.0
11.1 58.9 18.9
14.9 56.1 14.2
18.4 53.3 9.8
19.5 54.3 6.7
20.7 54.7 4.0
31.1 47.1 -9.3
25.3 51.8 -2.4
18.8 58.2 4.2
16.4 57.1 10.2
16.8 56.2 10.1
17.0 55.7 10.3
14.8 56.8 13.6
12.0 60.8 15.2
14.9 61.3 8.9
13.6 58.5 14.2
11.6 59.7 17.1
13.6 57.2 15.5
11.1 60.4 17.4
10.5 50.5 28.4
11.6 55.5 21.3
11.5 58.5 18.5
14.3 53.4 18.0
12.0 58.2 17.8
11.6 56.9 19.8
10.5 55.1 23.8
8.9 52.7 29.5
6.2 48.4 39.3
6.9 46.2 40.0
9.3 57.1 24.4
9.3 61.2 20.3
8.0 63.5 20.5
10.4 63.3 16.0
7.5 60.0 25.1
7.5 51.8 33.3
7.5 48.9 36.2
6.2 46.5 41.2
6.2 39.1 48.5
5.6 37.3 51.5
6.7 33.1 53.5
5.5 27.3 61.8
10.7 31.5 47.1
7.1 39.6 46.2
8.4 39.6 43.6
5.6 32.7 56.0
5.6 24.9 63.8
5.6 26.3 62.5
10.0 29.9 50.1
8.0 35.6 48.4
4.4 31.1 60.2
7.3 27.3 58.2
7.1 28.2 57.6
10.5 34.9 44.0
12.4 42.7 32.5
10.0 40.7 39.3
10.2 43.3 36.4
9.6 46.1 34.7
8.7 46.9 35.6
12.2 48.0 27.6
10.2 46.4 33.3
4.5 40.7 50.2
6.5 40.2 46.7
6.7 43.5 43.1
10.2 46.4 33.3
6.5 49.6 37.3
10.0 54.0 26.0
11.6 49.1 27.6
6.9 48.5 37.7
6.7 49.3 37.3
7.3 51.6 33.8
8.9 52.2 30.0
8.0 51.8 32.2
6.5 45.5 41.5
6.5 48.9 38.0
11.7 46.7 29.9
9.5 52.2 28.8
12.2 51.5 24.2
14.5 55.6 15.3
11.5 56.5 20.5
8.5 55.9 27.0
8.9 57.5 24.7
5.5 52.9 36.2
5.3 49.6 39.8
6.5 40.4 46.5
5.8 42.8 45.6
8.5 40.5 42.4
5.6 47.3 41.5
9.3 45.8 35.6
5.8 51.1 37.3
6.0 49.0 39.0
6.9 43.3 42.9
8.9 48.1 34.1
6.9 49.0 37.2
6.2 34.7 52.9
5.8 42.0 46.4
8.0 38.0 46.0
7.5 39.8 45.3
10.4 41.6 37.6
3.5 40.4 52.7
3.6 46.2 46.5
8.3 35.9 47.5