Spaniards show cautious optimism towards the economy

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The Spanish population shows growing optimism regarding the economic situation, according to the GfK Consumer Climate study for Europe, corresponding to the second quarter of 2018. This optimism is also transferred to households, something that has not happened since 2011.

The objective of the study is to measure the mood of the population, through questions Email Data about the perception of the situation in their country and their home in the next 12 months, compared to the last 12.

All the indicators studied indicate a recovery of optimism in their economic expectations, rebounding from last December's data. Last quarter, confidence suffered a drop of 10 points, the largest among the 16 European countries analyzed, despite the good GDP indicators. On the contrary to June, we are the country whose optimism shows the greatest growth, while it falls in France (20 points) or Germany (23).

Given that macroeconomic data has not changed substantially, the only change that may have affected perception is the change of government, which may have influenced income expectations.



The maintenance of the general budgets, the reactivation of the Toledo Pact, the salary agreements between employers and unions or the messages to reduce the salary gap contribute to this.

The willingness to consume returns to positive values, with good spending prospects, but still far from the rest of Europe. Only Romania, the United Kingdom and Greece are below. The high level of savings in Spain and the little interest in spending suggests that the population still feels little confident in assuming expenses beyond what is necessary.

European results

The general results show a largely positive Europe with confidence in the progress of local economies, as well as in the income and willingness of households to buy. However, there are three notable casualties: Germany, Belgium and France. The United Kingdom, for its part, remains in the red zone in which it settled after its decision to leave the EU.