Spain’s consumer confidence improves

Madrid, May 4 (IANS) Spain’s consumer confidence in April increased by 4.6 points to 56.7, according to data published by the Sociological Research Centre (CIS) in Spain.

The CIS Friday said this meant a 8.8 percent increase on a monthly basis, while a 12.8 percent rise in annual terms as April 2012 Spain’s consumer confidence stood at 50.3 points, reported Xinhua.

The Consumer Confidence Index is based on a scale of between 0 and 200 points, with ratings of over 100 points considered as positive and optimistic perceptions of the economic situation and those below 100 indicates negative or pessimistic opinions.

April’s consumer confidence is therefore still very low. The improvement was due to a slight improvement in the perception of the Spanish people about the current economic situation and expectations for the future.

The Consumer Confidence Index helps to predict consumer behaviour in the following month, providing very useful information to predict how Spain’s domestic demand will evolve in an atmosphere which has seen it shrink in recent months due to unemployment and lower salaries.

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