The Consumer confidence indicator decreased in the last two months, significantly in March, registering a significant decline in March to the lowest value since December 2023. This result is mainly due to the pronounced negative contributions of expectations on the future evolution of the country’s economic situation and of households’ financial situation. Opinions on the past evolution of households’ financial situation and perspectives on the future evolution of major purchases by households also contributed negatively, slightly in the last case. 

The balance of Consumer perspectives on the future evolution of the country’s economic situation decreased in the last two months, significantly in March, reaching the lowest value since January of 2023. The balance of expectations on future price developments increased in the last three months, recording in March the second largest increase of the series and reaching the highest value since March 2022.

The economic climate indicator decreased in March, to a value close to that observed a year ago. The confidence indicators decreased in Trade and in Construction and Public Works, having increased in Manufacturing Industry and in Services. 

The Trade confidence indicator decreased in the last four months, reflecting the negative contributions from opinions on the volume of sales and from perspectives regarding activity. In Construction and Public Works, the indicator also decreased in February and March, reflecting the negative contribution of the perspectives on employment. Conversely, the Manufacturing Industry confidence indicator increased in March, reflecting the positive contribution of assessments of stock of finished products and the firm’s production perspectives over the next three months. Also, the confidence indicator of Services increased in February and March, driven by the positive contributions from the assessments of the firm's activity and on the evolution of the order books. 

In March, the entrepreneurs’ expectations regarding the future evolution of selling prices increased all sectors, in Trade, in Construction and Public Works, in Services and, expressively, in Manufacturing Industry, reaching in this latter case, the highest value since October 2022.

This press release also presents the main results of two ad hoc modules about the use of AI technologies and their perceived effects on work included in the Qualitative Survey on Consumers, and the adjustments made by companies of Manufacturing Industry in response to tensions in non-EU markets.