Consumer confidence in Spain improves slightly, but concerns persist.

The recent report from the Sociological Research Center (CIS) on consumer confidence for the month of November reveals an improvement in the perception of Spaniards, although it remains in negative territory. With a consumer confidence index (CCI) standing at 80.6 points, there has been an increase of one point compared to the previous month and an increase of nearly four points compared to the same month last year. However, it is important to highlight that this index continues to be below 100 points, which marks the line between a positive and negative perception. Analyzing in detail the two components that make up the CCI, it is observed that the indicator referring to the current situation has increased by 0.8 points, reaching 73.8. In contrast, the expectations indicator has shown a more notable rise, increasing by 1.3 points to reach 87.5. These data suggest a slight recovery in consumers' current perception, although future expectations present a more nuanced picture. Within the current situation index, significant variations have occurred. The evaluation of the labor market has risen by 2.8 points, which may indicate a more optimistic perception regarding job opportunities. Additionally, the evaluation of households has also grown, with an increase of 3.4 points. However, not all news is positive, as the perception of the overall economic situation has decreased by 4 points compared to October, reflecting some uncertainty in the global economic context. Regarding the expectations index, a divergent behavior has been observed. On one hand, expectations about the future evolution of the economy have fallen by 2.9 points, which can be interpreted as a sign of distrust regarding economic recovery. However, expectations about the future situation of households have improved by 3.7 points, and confidence in the labor market has also seen an increase, rising by 3 points. The CIS survey, conducted between November 15 and 19 with a sample of 2,860 people, has also highlighted an increase in fears of inflation, which have risen by 3.9 points. Concerns about a future increase in interest rates have also grown, in this case by 5.6 points. These worries may be influencing the general perception of consumers and, consequently, their spending behavior. Despite these fears, expectations for savings have experienced a growth of 2.4 points, suggesting that consumers are adopting a more cautious approach to managing their personal finances. On the other hand, consumption expectations have also shown a slight increase of 1.3 points, which could indicate that, despite concerns, consumers are willing to continue spending, albeit more consciously. It is essential to consider that these data are framed within a complex economic context, where global challenges, such as inflation and interest rates, continue to exert pressure on the domestic economy. As consumers navigate this uncertainty, it is likely that their decisions will be influenced by the evolution of these factors in the coming months. In conclusion, while consumer confidence has shown signs of improvement in November, concerns about the future economic situation persist. The dichotomy between the improvement in perceptions of the labor market and the decline in overall economic confidence highlights a mixed picture that could influence consumers' decision-making in the short and medium term. With all these factors at play, it will be crucial to closely monitor the evolution of the CCI in the coming months to better understand the dynamics of consumption in Spain.