The consumer confidence indicator stabilized in August after rising in the previous month, and the economic climate indicator fell after rising in July, the National Institute of Statistics (INE) announced on Tuesday.
According to INE’s ‘Conjuncture Surveys on Companies and Consumers’, “the consumer confidence indicator stabilized in August, after rising in the previous month, and remained at a relatively stable level since the abrupt decline in March, the second most intense in the series, surpassed only by those of April 2020 at the start of the pandemic”.
As for the economic climate indicator, “it fell in August, in contrast to the increase recorded in July, moving away from the level observed in February, where it reached the maximum since March 2019”.
According to INE, the stabilization of the consumer confidence indicator over the past month “was due to the negative contribution of expectations regarding the future evolution of important purchases by households, which was offset by the positive contribution of the other components: opinions and expectations regarding the financial situation of the household and perspectives on the future evolution of the economic situation of the country”.
The balance of the forecasts regarding the future evolution of the country’s economic situation has increased in the past two months, after a decline in June, and the balance of the forecasts regarding the future evolution of the household’s financial situation rose in August, after falling in the two months last.
The balance of views on past price trends stabilized at the range’s maximum value in August, “after the soaring trajectory that began in March 2021”.
In turn, the balance of prospects for future price developments has waned over the past two months, resuming the downward trend observed after the biggest rise in March and the series’ high that started in September 1997.
According to INE, “Confidence indicators have fallen in trade, industry and construction, in the latter case more strongly, with the services indicator rising”.
In the manufacturing sector, confidence fell in July and, “more intensely”, in August, to levels close to April 2021, owing to the negative contribution of all components, valuations related to the ‘stocks’ of finished products. products, opinions on the development of global demand and production prospects, especially in the latter case.
“The confidence indicator fell in the consumer goods and semi-finished goods groups, and rose in the investment goods group,” the INE said.
Opinions on global manufacturing demand declined in August, after stabilizing in June and July, while opinions on domestic demand deteriorated in August, contradicting the recovery in July.
On the other hand, assessments of external demand, taking into account companies with production oriented towards the external market, recovered slightly in July and August, after stabilizing in June.
The construction and public works confidence indicator “in turn declined in August and resumed the downward trend that had begun in February,” reflecting the negative contribution of the two components: order book assessments and employment prospects,” in the latter case. more intense”.
In the commerce sector, the confidence indicator declined in July and August due to the negative contribution from opinions on sales volume and business outlook, while opinions on ‘stocks’ volume contributed positively.
In August, the confidence indicator in wholesale fell and increased in retail.
The confidence in services indicator rose in August, after falling in the previous month.
The INE explains that “the behavior of the indicator was the result of the positive contribution of opinions on the evolution of the order book and of the perspectives regarding the evolution of demand, with the ratings of the company’s activity contributing negatively. “.
Source: DN
