After two consecutive months of increases and reaching its highest levels since 2006, the Consumer Confidence Index (CCI), compiled by the Official Credit Institute (ICO), fell slightly in November compared to the previous month. Specifically, it dropped 0,8 points, which translates to a year-on-year decrease of 0,3 points. The partial indicator for the current situation and the indicator for expectations both declined (0,8 points compared to October), due to the respective drops in the components of household finances and, to a lesser extent, the Spanish economy as a whole. However, the family component, which decreased by 1,3 points, remains the one for which consumers express the highest expectations and the only one that stands above 100. The indicator, which is based on a survey by the OPINA Institute, is explained year-on-year by the fact that, although consumers maintain their assessment of the current situation at the same level as a year ago (77,5 points), the expectations indicator has decreased (0,6 points), also a consequence of the worsening outlook regarding the family economy. Ultimately, the only component of the ICC-ICO indicator that improved in November was the opinion regarding recent employment trends (0,1 points).
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