For the interval between December 2011 and February 2012, company managers expect stability in the retail trade sector, a moderate decline in the processing industry and services, and a drop in the construction sector, compared to the previous three months, the National Statistics Institute (INS) announces. The conclusions were obtained via conjectural surveys, based on estimations made by managers regarding the trends of economic sectors. Processing industry managers thus estimate, for the next three months, a moderate decrease of the output (conjectural balance -9 pc). A more serious decline is expected for the construction sector in terms of both output (conjectural balance -39 pc) and number of employees (conjectural balance -33 pc). Managers also expect a decline of the stock of contracts and orders (conjectural balance -37 pc). In the retail trade sector, managers forecast for the next three months a relative stability of the economic activity (conjectural balance +1 pc), total sales volume (conjectural balance +3 pc) and personnel (conjectural balance +4 pc).