The confidence of the consumers raises in October after the strong fall of September
MADRIDUpdated:
Consumer confidence in the Spanish economy improved in October and recovered the uptrend interrupted in September, when it suffered a sharp drop, according to the Consumer Confidence Indicator (CCI) published today by the Center for Sociological Research (CIS). In October, consumer confidence increased driven both by the improvement in the assessment of the current economic and employment situation and future expectations, although it continues to be lower than the values recorded in the last two years.
The ICC scored in October 93 points, the 100 being the threshold between a positive and negative perception, above the 90.6 points that registered in September, but below the 99.6 points that counted a year ago.
Consumers valued the current situation at 85.4 points, above the 82.9 in September but far from the 93.4 points a year ago, after improving the perception of the economy in general, the labor market and the situation of households.
In terms of expectations, respondents gave a score of 100.5 points, which returned to the positive ground lost in September, but without reaching 105.8 points a year ago, with the improvement of its three components, in In particular, the future situation of the economy and, to a lesser extent, the labor market and the situation of households.
According to the CIS, consumers improved their consumption expectations with respect to September, in parallel with the decline in savings forecasts. The fear of inflation also fell and the outlook for an increase in interest rates rose.
According to the survey that the CIS uses as the basis of this indicator, the majority of respondents (61.6%) believe that the economic situation of their household is the same as it was six months ago, above those that consider it better (14 , 8%) or worse (22.6%).
Even so, almost half (43.5%) claim to arrive just at the end of the month, while 35.9% say they save a little money and 9.5% have had to resort to their savings.
A 46.8% of those questioned do not have anyone in their environment unemployed and looking for work today, but only 17.7% of the total believes that the situation to find or change employment has improved compared to six months ago.
More than half of the participants in the survey, 58.8%, believe that their chances of buying durable goods, such as cars or appliances, will not change this year, as it happens with the prospects for savings (52.8%) .
Also around half of the respondents (49.8%) are those who believe that the economic situation of their household will not change in the next six months, above those who believe that it will improve (26.6%) or worsen (18, one%).
According to the survey, 7.5% of Spaniards plan to buy a house next year, despite the fact that 63.2% of the total thinks it will be more expensive and that 48.6% believe that interest rates will increase.
Regarding the economy in general, 39.3% of respondents believe that it is worse than six months ago, while, for the next six months, more people believe that it will get worse (34.9%) or improve (30.6%) than those who think that it will remain unchanged (24.3%).
