March 4, 2021

Consumer confidence is positive for the first time since August 2018


Consumer confidence in the Spanish economy returned to positive territory in June for the first time since August last year, driven both by the improvement of future expectations and the vision of the current situation. The Consumer Confidence Index (CCI) of June published on Friday by the Center for Sociological Research (CIS) it stood at 102.3 points, 5.4 above what was noted in May, with what returns above the 100 that mark the threshold between positive and negative perception.

Thes future expectations reached 108.6 points, 4.2 more than in May and the highest level since July of last year. This advance is driven by the improvement of the expectations of the future situation of the economy (it grows 6.7 points) and, to a lesser extent, of households (sum 3.7) and the labor market (increases 2.2) .

On the other hand, the assessment of the current situation was 96 points, still in negative territory, but 6.7 above what it marked in May and the highest level since August 2018.

This "very positive" behavior of the assessment of the current situation is obtained before the improvement of the perception of the evolution of the labor market (it rises 8.3 points), of the economy (increases 7.8) and of the situation of households (improvement 3.9).

According to the statistics, in June the expectations of saving (3 points) and consumption (1,3) improved, while the forecast of interest rate rebound was down 0.8 points and fears of inflation remained unchanged.

In their responses, respondents indicate that the situation of the current Spanish economy is worse than six months ago (according to 29.8%, while only 23% say it is better), but optimists regarding the future evolution (33.5%) surpass both those who believe that it will not change (29.2%) and the pessimists (25.5%).

Regarding the economic situation of your home, 67.3% believe that it is the same as six months ago – 43.2% say they arrive just at the end of the month and 38.3% manage to save a little money – and 25.9% trust that it will improve in the next six months, almost twice as many people think that it will get worse (13.2%).

The 45% of those questioned do not have anyone in their environment unemployed and those who think that it is more difficult to find work now that six months ago (26.7%) outperform those who believe it is better (23.1%). On the other hand, those who think that it will improve in the next half year (33.7%) outperform those who expect it to get worse (28.5%).

Although the majority expect that their consumption situation does not change, 17.4% of the answers point to an improvement in the possibility of acquiring durable consumer goods, such as cars or appliances, in the next year and 18.4 %, to greater possibilities of saving.

In that same line, although it is expected a rise in the price of housing -according to 63.3% of the respondents- and interest rates -according to 41.3 %-, 7.2 of those interviewed plan to buy a house next year.

This indicator has been prepared with 2,200 telephone interviews conducted between June 17 and 20.

(tagsToTranslate) trust (t) consumer (t) June

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