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Consumer confidence rose almost 24 points in 2021

The consumer confidence fell 3.3 points last December compared to the previous month, to stand at 81.3 points, but rose 23.7 points on average in 2021, thus surpassing the data for 2020, the first year of the pandemic, although not that of the years prior to the arrival of the Covid, according to data published by the Center for Sociological Research (CIS).

Specific, the consumer confidence indicator registered an average of 83.7 points in 2021, below all the figures obtained from 2014 to 2019 and the maximums of the series registered in 2015 and 2017, which were 19 points higher. Of course, the 2021 average is almost 34 points higher than the historical low of 2012, when consumer confidence stood at 49.8 points.

The advance in confidence registered in 2021 was the result of both the increase in citizens’ assessment of the current situation, which rose an average of 23.5 points compared to 2020, as well as the increase in the expectations indicator by 23.9 points.

A) Yes, the expectations index averaged 103.7 points in 2021, a figure that is 10.3 points below the maximum of its series, reached in 2015, while the current situation indicator registered an average of 63.6 points last year, 32 points less than in 2017, when it reached their maximum values ​​(95.6 points).

The upturn in citizens’ expectations in 2021 is the result of the better assessment that, compared to 2020, they make of the future evolution of the economy (+31.5 points), employment (+28.2 points) and the situation of households (+12 points).

For its part, within the current situation indicator, Consumers’ assessment of the general evolution of the economy rose an average of 31.9 points in 2021 and the assessment of the labor market improved 29.7 points. To a lesser extent, the perception of the situation of households grew, advancing 9.1 points on average in the year.

Despite the fact that the confidence indicator still remains below pre-pandemic levelsConsumption and savings data, which had remained almost stable since 2015, recovered pre-Covid levels in 2021 after increasing 12.7 and 10.3 points, respectively.

On the other hand, inflation expectations increased 9.7 points in 2021 compared to 2020 and the prospects for future increases in interest rates climbed 12.1 points.

It falls 3.3 points in December

In the last month of 2021, consumer confidence fell 3.3 points, to 81.3 points, its lowest level since last April.

This drop in confidence in December was due to a 4.5 point drop in consumers’ assessment of the current situation, to 69.8 points, and the decline, by 2.1 points, in consumer expectations. citizens, which placed this indicator at 92.8 points.

With the decline of December, consumer confidence chains three consecutive months of declines and it is still below 100 points. Consumers’ perception is thus considered negative, since to be considered positive it must be above this amount.

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In year-on-year terms (December 2021 over the same month in 2020), consumer confidence has increased 18.2 points, with an increase of 35.6 points for the current situation indicator and a slight advance in expectations of eight tenths.

The ICC collects monthly the assessment of the recent evolution and expectations of Spanish consumers related to the family economy and employment, with the aim of anticipating their consumption decisions. The indicator collects values ​​between 0 and 200, considering that over 100 the perception is positive and below, negative.

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