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Consumer confidence
Consumer confidence
According to the Consumer Confidence Index (CCI), in Q1, 2008, consumer confidence in Navarra remained stable with respect to the previous term, after falling sharply in the previous two quarters. Despite pessimistic views on the economic situation and the bleak outlook of savings expectations, a recovery in purchase expectations can be observed, after its severe deterioration in Q4, 2007.
Consumer perceptions in Spain and the EU are pessimistic for the third straight quarter, in sharp contrast to the stable profile shown in Navarra. Consumers’ opinions are less positive when it comes to the current economic situation, the expected situation for households, and savings expectations. Optimism could be observed with regard to the purchase of durable goods, prices, and the labour market.
These conclusions were drawn from the Navarra Consumer Survey carried out among 640 random households by the Statistics Institute on a quarterly basis. This survey’s results, analogous to those obtained for Europe and the US, are commonly used to study family consumption cycles.
Family economic situation index
Evolution of the Consumer Confidence Index in Navarre, Spain and EU