Consumer confidence renews maximum in July and economic indicator falls back

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The consumer confidence indicator renewed in July “the maximum value since February” last year and the economic indicator retreated after stabilizing in June, the National Statistics Institute (INE) announced today.

According to the Business and Consumer Confidence Surveys, “the consumer confidence indicator extended the upward trajectory started in December, renewing in July the highest value since February 2022, after having recorded in November the lowest value since the beginning of the pandemic in April 2020”, reads the document.

“The balance of consumers’ views on past price developments has declined over the past three months, significantly in May and June, moving away from the high level it was at,” he adds.

The economic climate indicator “declined in July, after stabilizing in the previous month”.

According to INE, “confidence indicators decreased in manufacturing, construction and public works and services, having increased in trade”.

The balance of business owners’ expectations about future sales price developments in manufacturing “decreased slightly in July, extending the marked downward trend that started in November and reaching the lowest value since May 2020”.

This balance has also seen a decline since November in trade, “reaching in July the lowest level since February 2021”.

In construction and public works, “the balance of the firm’s price outlook for the next three months stabilized in July, after declining between February and June, remaining at the lowest level since April 2021”.

With regard to services, according to INE, “there was an increase, after having also decreased since February”.

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