The results of the latest IEER SME Outlook business climate survey reveal a less favourable economic condition compared to the previous quarter: the Business Climate Index decreased from 23 to 16 points. This value is the same that the one measured in January (16 points) and a bit lower than the one in July 2014 (18 points). The Uncertainty Index is at a current level of 35 points, which is lower than in the previous quarter (it was 38 points in April 2015), and is equal to the value measured in the preceding quarter. The value of the Uncertainty Index indicates that the current trend is not uniform within the private sector, and that it will continue to be confined to one part of the economy and will not be felt by all small and medium sized companies.