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Spain's consumer confidence falls in May

Xinhua, June 3, 2016 Adjust font size:

Spain's consumer confidence fell slightly by 0.3 points from April to May to 90.7 points indicating a negative perception of Spain's economic situation, the Sociological Research Centre (CIS) reported on Friday.

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 indicator of people's expectations about the future improved slightly in May although the indicator of the current economic situation worsened.

The indicator of the current economic situation fell to 82.9 points in May, falling by 1.4 points since April. The CIS attributed this fall to more pessimistic opinions by households about the current economic situation.

The indicator of people's expectations rose by 0.8 points to 98.6 points since April, with opinions by households increasing by 0.7 points but those about the labor market falling by 0.5 points.

Meanwhile, on a year-on-year basis, consumer confidence fell by 12.4 points as a result of a fall of 16 points in the indicator of people's expectations about the future and a fall of 8.7 points in the indicator of the current economic situation.

The CIS does around 1,400 interviews on people's opinions about the current economic situation and their expectations and the results help to predict the consumers' behavior for the following months which at the same time helps predict the development of the economy. Endit