Income and expenditure forecasts improve in Spain, despite growing mistrust of the economy

the Population in Spain Last month, it showed that its outlook regarding the country’s economy had been damaged. On this occasion, this perception did not lead to a decline in confidence in income or even in consumption in the short term, as both improved, within the brakes that we have been monitoring for months. How is this reflected in GfK’s European consumer climate?

The consulting firm known for its German Consumer Confidence Index analyzes the perceptions of German residents monthly 29 European countries. To do this, it uses its own data in Germany, Poland and the United Kingdom, as well as information collected by other institutions coordinated by the European Commission.

In Spain, caution towards the country’s economy remains

After the significant eleven-point drop in the economic expectations index recorded in Spain in SeptemberOctober is getting worse again, albeit in a less obvious way. A decrease of two points puts the index at -19, a value equal to May of this year and which again reduces the confidence of the population in the economy of our country.

This new height of frustration This puts us five points below the total of the countries analysedIts index also fell by two points, indicating that the trend towards pessimism continues across the continent. Spain ranks 15th out of 29 countries analysed. Once again, only Lithuania was positive (+2), despite the fact that distrust in its economy increased by six points this month and was close to turning negative.

If we analyze the large economies, with the exception of Germany (-2) which, with an improvement of one point, is approaching positive values, in the rest of the economies despair has increased significantly: the United Kingdom drops ten points (-21), France drops five (-) 21. ) and Italy declines seven times (-13).

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Households in Spain improve their income expectations slightly

Despite caution regarding the country’s economy… Residents in Spain are taking a better look at their household income for the coming months. Although it has been common for income forecast indicators to behave in a similar way to economic forecasts, on this occasion they were observed to take separate paths. This is something that has not happened in recent months.

After falling by eleven points last month. The Citizens regain their confidence a little in October and the index improves by three points, putting its value at -13, the same as the record set in April. This is a number 6 points higher than the total of the 29 countries analyzed (-19), which brings us to 12th place among all these countries. In Europe, frustration has left only six countries with positive numbers, one fewer case than in September.

Regarding the economic forces in the region, In all of these countries, mistrust is growing and exacerbated to varying degrees.. It was Italy (-30) and the United Kingdom (-15) that showed the largest declines with eleven points of variance. In Germany (-15) and France (-23), we see smaller losses, of around four points and one point in confidence, respectively.

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