MADRID: The Spanish believe that the future is brighter for the economy and themselves Little by little the Spanish economic recovery appears to be gaining momentum, and as a consequence consumer confidence is now at its highest level since comparable data were first compiled.
On a scale of 0 to 200 the latest figure measured in May by the country’s sociological studies institute is 103.1, with the increase of 1.3 points compared to April due mainly to better expectations among the general public regarding the economy as a whole and their own household finances. While in respect of the current situation the May index stood at 91.6, itself a record high, in terms of the future the equivalent figure was 114.6, 2 points higher than the month before.
The overall index now stands 18.2 points higher than a year ago, and in terms of the current economic situation has risen by 24.3 points. At the same time the opinion of the job market has improved by 23 points. However, almost a third (31.3%) of those taking part in the survey still believe that the economic situation is worse than six months ago, outnumbering the 30.1% who believe that it has improved. Looking to the future, these percentages change appreciably, with 41.9% expecting improvement and only 22.6% anticipating deterioration.
