Spain: Business confidence improves in April
April 14, 2011
In April, the quarterly business confidence index (ICE, Indicador de Confianza Empresarial) published by the Association of Chambers of Commerce (Consejo Superior de Camaras de Comercio) stepped up from minus 20.5 points in January to minus 16.2 points, after two consecutive declines. Despite the April improvement, the index remains below the 0-point threshold that separates optimistic from pessimistic territory. Nonetheless, business sentiment remains above the April 2009 trough, when the index fell to minus 27.6 points. The improvement in business confidence was the result of a strengthening in the expectations sub-index for the next three months (April-June), which rose from minus 20.1 points in January to minus 11.8 points in April, amid better perceptions regarding future business prospects and unemployment.