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Spain Economic Sentiment November 2023

Spain: Economic sentiment falls to one year low in November

Economic sentiment fell to 98.8 in November from October’s 100.3. November’s result marked the worst performance since November 2022. Consequently, the index dipped below the long-term average of 100, pointing to a muted near-term outlook for the economy.

The headline print reflected languished sentiment in the industrial sector contrasting improved sentiment in the construction sector. Meanwhile, confidence in the services sector cooled in November, while sentiment in the retail sector remained stable in the surveyed month. Lastly, consumer confidence was up in November.

Relating to indicators that are not used to calculate the index, employment expectations weakened, while the economic uncertainty index fell in November.

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