Spain's economic sentiment has taken a slight dip in June 2024, according to the latest data from the Thomson Reuters IPSOS Primary Consumer Sentiment Index (PCSI). The indicator, which gauges the economic confidence of Spanish consumers, fell to 46.36, down from 48.62 in May 2024. This data update was released on 13 June 2024.
The month-over-month comparison highlights a continued downward trend in consumer confidence. In May 2024, the indicator had already shown a decline, suggesting a longer-term sentiment shift amongst Spanish consumers. This consistent drop points to growing pessimism or uncertainty about the economic prospects in Spain, influenced possibly by external economic factors, rising living costs, or domestic economic policies.
The Thomson Reuters IPSOS PCSI is a valuable litmus test for gauging the economic mood of consumers and can often precede market movements or policy shifts. As such, the downward movement noted through June may raise concerns for economic stakeholders and policymakers aiming to steer Spain’s economy towards recovery or growth. Investors and analysts will be closely watching subsequent months to see whether this trend continues or stabilizes.
