The index of consumer confidence produced by the National Credit Institute (ICO, Instituto de Credito Oficial) dropped to 64.6 points in December from 70.0 points in November. Moreover, the index remains 10.1 points below the level observed in the same month the previous year and marks the lowest level since May 2009. At the current level, the consumer sentiment index sits well below the 100-point threshold that separates optimistic from pessimistic territory. Gloomy consumer confidence is likely to remain a drag on private consumption in the months ahead. The deterioration in consumer sentiment was caused by increasing pessimism regarding the current situation (-4.7 points), as well as a drop in the expectations sub-index (-6.2 points) owing to consumers' pessimistic assessment in all three categories (general economic situation, households' situation and employment conditions).
Spain Consumer Confidence
Consumer confidence drops to lowest level since May 2009
January 5, 2011
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Spain Economic News
October 7, 2016
In August, industrial production expanded 4.0% from the same month last year in working-day adjusted terms.
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The Markit Purchasing Managers’ Index (PMI) Composite Output Index came in at 54.1 in September, which was slightly below August’s 54.8 reading.
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Spain’s current account balance incurred a surplus of EUR 3.0 billion in July, which was above the EUR 2.7 billion surplus recorded in the same month of last year and marked the highest reading since December 2014.
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In July, the Spanish Board of Architects (Colegio de Arquitectos Técnicos) granted 6,267 new construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento).
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In August, retail sales rose 4.9% over the same month last year as the discount season drew to an end.