Spain's consumer confidence improves

Spain's consumer confidence improves Madrid: Spain's consumer confidence improved in January 2013 compared with December 2012, according to data released by the Sociological Research Centre (CIS) in Spain.

The indicator used by the centre ranges between 0 and 200 points with rating of over 100 points considered as positive and optimistic perceptions of the economic situation, while ratings below 100 indicate negative or pessimistic views, reported Xinhua.

In January, the indicator was at 55.7 points, quite below the 100 point mark pointing to a pessimistic perception of the economic situation in the country.

However, on a monthly basis, it increased by 11.4 points, a 25.7-percent increase, which is considered the highest variation in one month, said the CIS Monday.

This improvement is attributed to two main indicators: the perception of the Spanish people about the current economic situation which saw an increase of 10 points to reach 36.2 points in January and people's expectations for the future, which rose by 13.3 points to reach 75.2 points.

However, despite this monthly rise, there is no improvement in the indicator in annual terms.

The perception of Spaniards about the current economic situation decreased by 6 points in comparison with the same month of 2012, while Spaniards' expectations for the future declined by 18 points.

The data is used to predict consumer behaviour in the following month and forecast domestic demand trend which is a significant factor for Spain's economic recovery.

IANS