The Consumer confidence indicator increased in September and October, after decreasing in the previous month. The increase observed in the last month was driven by positive contributions of expectations on the future evolution of major purchases by households, of the country’s economic situation and of households’ financial situation. In contrast, opinions on the past evolution of households’ financial situation contributed negatively. 

The balance of Consumer opinions on past price developments increased significantly in October, after decreasing in the previous two months, while the balance of expectations on future price developments declined in September and October, markedly in the last month, following the increases of the previous two months.

The economic climate indicator decreased in October, suspending the upward movement observed in the last three months. The confidence indicators decreased in Manufacturing Industry and in Services, having increased in Trade and in Construction and Public Works.

The confidence indicator in the Manufacturing Industry decreased in October, after having increased in the last eight months, reflecting the negative contribution in the last month of the firm’s production perspectives over the next three months. The Confidence Indicator in Services also decreased in the last month, driven by the negative contribution of opinions on the evolution of the order books and perspectives on the evolution of demand. In the opposite direction, the Trade confidence indicator increased in the last four months, significantly in October, reflecting the positive contributions from all the components, expectations on the firm’s activity over the next three months, opinions on the volume of sales and assessments on the current volume of stocks. The confidence indicator of Construction and Public Works increased in October, after having decreased between July and September, reflecting the positive contribution from both components, opinions on current order books and perspectives on employment.

In October, the entrepreneurs’ expectations regarding the future evolution of selling prices decreased in the sectors of Trade, Construction and Public Works and Manufacturing Industry, having increased in the Services sector.