Madrid (EFE).- Consumer confidence in the Spanish economy has improved in April mainly due to the positive evolution of its two components: the assessment of the current situation and future expectations.
According to the monthly index of the Center for Sociological Research (CIS) published this Friday, the indicator has risen 5.5 points compared to March, to 73, although it is still below 100 – which marks the beginning of the positive perception of the consumers-.
Thus, confidence is rising again after two months of decline (February and March) and is now 12.5 points above the figure of six months ago, when it was at 60.5 points.
This increase is due to the improvement in the assessment of the current situation, which has grown 8 points in April compared to the month of March (to 62.8 points), and also of future expectations, which rise 3 points in the last month (83.1 points).
Assessment economic situation, household and work situation
Within the current situation index, its three components increase: 9.1 points the assessment of the current economic situation; 6.5 points for the situation of households and 8.5 points for the labor market.
The variables of the expectations index also present a positive evolution, since the evaluation of the evolution of the economy in the immediate future rises 5 points; 3.1 points for the future situation of households and one point for the future of the labor market.
As additional information to the ICC, the CIS indicates that the evolution of expectations in relation to prices, interest rates, household savings possibilities and the purchase of durable goods shows “a development consistent with the guidelines and data of the indices”.
In this sense, in April there was an increase in savings expectations (2.9 points compared to March) and in consumption expectations (1.8 points), while inflation fears increased 13.3 points with respect to the month of March and expectations of a future increase in interest rates fell 2.5 points.
The CIS survey is made on a sample of 2,792 telephone interviews carried out between April 27 and 29, 2023, in the new normality phase and with expectations that continue to be conditioned by the existing climate of uncertainty.