Consumer confidence drops again in June to 10.4 points

Consumer confidence continues to decline in June. The Consumer Confidence Index (ICC) settled at 55.5 points in Julywhich is 10.4 points lower than the previous month’s figure, according to data published by the Center for Social Research (CIS).

This decrease is due to the decline of its components. The assessment of the current situation decreased by 6.4 points to 53.1 pointsThe expectations index fell by 14.3 points to 57.9 points. The latter is the third lowest in the entire historical series that began in 2011, and was surpassed only after July and August 2012.

The general CCI stands at 3.1% above the lowest number for the year recorded in March, with the beginning of the war in Ukraine, when consumer confidence fell to 53.8 points. The indicator for the current situation is also higher than the March data, with an increase of 7.3%. However, the expectations index fell 0.4% after last month’s crash.

If compared to February of this year, and analyzed before the start of the war, The ICC for June is 38.2% belowWhereas the assessment of the current situation decreased by 34.4% and the assessment of expectations decreased by 41.3%.

“Evolution of expectations regarding prices, interest rates, and possibilities for household savings and the purchase of durable goodsshowing a development consistent with the guidelines and indicator data commented so far”, they point out from the CIS.

In June, the index fell to 65.8 points, and in May, it settled at 76 points. Compared to July of the previous year, the ICC slipped 36.5 points, which is a decline of 39.6% in percentage terms.