The Consumer confidence indicator decreased between August and October, after registering in July the maximum value since February 2022. The balance of Consumer opinions on the past evolution of prices increased significantly in October, after declining in the previous five months.

The economic climate indicator decreased between July and October, slightly in the last month. Confidence indicators decreased in the Manufacturing Industry, Construction and Public Works and Services, having increased in Trade. In the former case, the confidence indicator decreased in the Consumer Goods and Intermediate Goods groups, having increased in the Investment Goods group, reversing the significant reduction observed in the previous month in the Motor Vehicle Manufacture subgroup.

The entrepreneurs’ expectations regarding the future evolution of selling prices decreased in all sectors surveyed, most intensely in the Manufacturing Industry.

According to information collected about the evolution of investment in the context of the business survey for the manufacturing industry (page 9 of this press release), 55.1% of firms foresee that investment will stabilize in 2024 compared to 2023, while 31.9% foresee an increase and 13.0% a decrease.