The Consumer confidence indicator increased between December and April, after decreasing in the previous three months which resulted, in November, in the lowest value since April 2020 when the pandemic begun. The balance of Consumer opinions on the past evolution of the price level increased in March and April, after declining in the previous four months from the maximum value of the series recorded in October.

The economic climate indicator increased between January and April, reversing the downward movement initiated in March 2022. The confidence indicators of the Construction and Public Works and Services increased compared to March, while indicators of Manufacturing Industry and Trade declined.

The entrepreneurs’ expectations regarding the future evolution of selling prices decreased significantly between November and April in the Manufacturing Industry, reaching the lowest level since May 2020. In March and April, this balance also decreased significantly in Trade, reaching the lowest level since August 2021, while in Construction and Public Works and in Services, the reductions were more moderate in the last three months.

According to information collected about the evolution of investment in the context of the business survey for the manufacturing industry (page 10 of this press release), 57,.7% of firms foresee that investment will stabilize in 2023 compared to 2022, while 34.3% foresee an increase and 8.0% a decrease.