Spain: Economic sentiment records worst reading since November 2023 in May
Economic sentiment came in at 101.1 in May, down from April’s 104.3. May’s result marked the weakest sentiment since November 2023. That said, the index remained above the long-term average of 100, pointing to a positive near-term outlook for the economy.
The headline print reflected weaker sentiment in the industrial, services and retail sectors. On the flip side, sentiment in the construction sector strengthened. Lastly, consumer confidence rose in May.
Considering indicators that are not used to calculate the index, employment expectations improved, while the economic uncertainty index improved in May.