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

The balance of Consumer opinions on past price developments decreased in the last two months, after increasing significantly in November, while the balance of expectations on future price developments increased in December, following the decreases recorded in the previous three months.

The economic climate indicator increased slightly in December, extending the upward movement observed since April. The confidence indicators increased in Services, having decreased in Trade, in Manufacturing Industry and in Construction and Public Works.

The confidence indicator in Services increased in the last month, after having decreased in the previous three months, driven by the positive contributions of perspectives on the evolution of demand and assessments of the firm's activity. Conversely, the Trade Confidence Indicator decreased in December, after five consecutive months of increases, reflecting negative contributions from opinions on the volume of sales and assessments on the current volume of stocks. The confidence indicator in the Manufacturing Industry also decreased in December, after having increased significantly in the precedent month, reflecting the negative contributions of the firm’s opinions on the evolution of the overall order books and the production perspectives over the next three months. In turn, the confidence indicator of Construction and Public Works decreased in December, reflecting the negative contributions of both components: opinions on current order books and perspectives on employment.

In December, the entrepreneurs’ expectations regarding the future evolution of selling prices increased in the last three months in the Services and in the last two months in Manufacturing Industry and in Trade, decreasing only in Construction and Public Works.