The Consumer confidence indicator decreased in August and September, more significantly in the last month, after registering in July the maximum value since February 2022, following the upward trajectory started in December. The balance of Consumer opinions on the past evolution of prices decreased in the last five months, moving away from the high level it was at, close to the maximum value of the series recorded in October.

The economic climate indicator decreased between July and September, after stabilizing in June. Confidence indicators decreased in Trade and in Services, having increased in Construction and Public Works and Manufacturing Industry. In the latter case, the confidence indicator increased in the Consumer Goods and Intermediate Goods groups, while it decreased considerably in the Investment Goods group due to the significant reduction observed in the Motor Vehicle Manufacture subgroup. 

The entrepreneurs’ expectations regarding the future evolution of selling prices, in the Manufacturing Industry, increased in August and September, interrupting the markedly downward trajectory started in November that culminated in July at the lowest value since May 2020. This balance also increased in the last two months in Trade and in Construction and Public Works. In Services, there was an increase in the balance in the last three months.