Spain: Consumer confidence improves in April
May 5, 2011
The index of consumer confidence produced by the National Credit Institute (ICO, Instituto de Credito Oficial) rose from 68.3 points in March to 73.2 points in April. In spite of the increase, the index sits 5.0 points below the level observed in the same month the previous year. In addition, consumer confidence - albeit improving - remains well below the 100-point threshold that separates optimism from pessimism, which suggests that private consumption will remain weak. The improvement in consumer sentiment was broad-based, as both the current situation and the expectations sub-indexes improved over the previous month. Rosier expectations across all three categories (general economic situation, households' situation and employment conditions) bode well for private consumption in the months to come.