Spain's consumer confidence rises by 4.2 points in July

Spain's consumer confidence increased by 4.2 points from June to July to 105.6 points indicating a positive perception 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 CCI has surpassed the 100 points five times in a row, indicating a growing optimistic perception of the economy.

The rise experienced in July was mainly due to an improvement in the indicator of the current economic situation that rose by 5.7 points to 96.4 points.

Consumers have more optimistic opinions especially about the economic situation in general and employment, however, opinions about the situation of households remained stable.

On the other hand, the indicator of the people's expectations for the future increased by 2.7 points in July to 114.7 points due to more optimistic opinions of the economic situation and employment, while opinions about the situation of households remained stable.

On a year-on-year basis, the CCI rose by 16.7 points with the indicator of the current situation rising by 19.4 points and the indicator of people's expectations rising by 13.9 points.

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.

Spain's Deputy Prime Minister Soraya Saenz de Santamaria said the rise in the CCI of July allowed maintaining credibility and confidence in order to strengthen the country's economic growth.

Saenz de Santamaria said the increase proved that consumers had confidence that the economic recovery will continue in the following months.