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Consumer confidence increases and economic climate stabilizes

The consumer confidence indicator rose in October, after declining in the previous four months, and the economic climate indicator stabilized, after having retreated in the previous month, the National Statistics Institute (INE) released today.

The rise of the consumer confidence indicator in October follows four consecutive months of declines, after reaching the maximum value of the series in May, while the stabilization of the economic climate indicator occurs after having decreased in September and reached in July the maximum value since May 2002.

Business and consumer surveys carried out by INE in October revealed that the reduction of the consumer confidence indicator “reflected the positive contribution of the balance of the perspective of the evolution of savings, the financial situation of the household and, to a lesser extent, of the economic situation of the country “.

The manufacturing confidence indicator declined in September and October, after recovering in the previous two months.

“The evolution of the indicator in the last month reflected the negative contribution of production perspectives and opinions on global demand,” explains INE.

As for the building and public works trust indicator, it increased in October, after declining in the previous three months, “as a result of the positive contribution of opinions on the order book and employment prospects.”

In trade, the confidence indicator rose in September and October, according to the INE, after declining between June and August, with the result of October translating the positive contribution of activity outlooks and opinions on sales volume.

The service confidence indicator declined in September and October, after reaching the highest month since August 2001. In the reference month, the behaviour of this index reflected the negative contribution of all the components, assessments and perspectives on the evolution of the order book and opinions about the activity of the companies.

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