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Spain's consumer confidence rises by 0.3 points in August

Xinhua, September 4, 2015 Adjust font size:

Spain's consumer confidence increased by 0.3 point from July to August to a total of 105.9 points indicating a positive perception of Spain's economic situation, according to data revealed on Thursday by the Sociological Research Center (CIS).

The Consumer Confidence Indicator (CCI) ranges between 0 and 200 points, with ratings over 100 points considered as positive perceptions of the economic situation and ratings below that figure indicating a negative perception.

The CCI has surpassed the 100 points six times in a row, indicating that consumer's confidence in Spain's economy is growing. The CIS did more than 1,500 interviews for the CCI which helps forecast the evolution of the country's economy taking into account consumers' behavior that directly affects domestic demand.

The increase registered in August was due to an improvement in the indicator of the current economic situation that rose by 1.8 points to 98.2, while the indicator of people's expectations about the future fell by 1 point to 113.7 points, especially because of more pessimistic opinions about the economic situation in general.

On a year-on-year basis, the CCI rose by 18.2 points with the indicator of the current economic situation rising by 21.2 points and the indicator of people's expectations rising 15.3 points.

Spain's Prime Minister Mariano Rajoy reflected on this data saying that the "society" had said "many things are happening here, but this is not the chaos of 2012," highlighting that the CCI released on Thursday was the best data in the historical series. Endit