Spain's consumer confidence rises by 8.7 points in Nov

Spain's consumer confidence rose by 8.7 points from October to November to 99.4 points, but still showed a negative perspective of Spain's economic situation, according to data published on Monday by the Sociological Research Centre (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 indicator of the current economic situation has increased by 5.9 points since October to 88.5 points and the indicator of people's expectations about the future sharply increased by 11.5 points to 110.2, indicating an optimistic perception about the future.

A total of 35.6 percent of people surveyed saw a worsening in the economic situation when compared with six months ago while only 23.4 percent thought it had improved; 41.1 percent of them expected it to improve in the upcoming six months while 30.1 percent believed it would worsen and 24 percent thought it would remain unchanged.

Meanwhile, the CIS said that on a year-on-year basis, the CCI fell by 5.2 points due to a fall of 4.7 points in the indicator of expectations about the future and a 5.7-point fall in the indicator of the current economic situation.

The CIS conducted more than 1,500 interviews for the CCI which helps forecast the performance of the country's economy taking into account consumers' behavior. Endit