Consumer confidence at record low

5th December 2007, Comments 0 comments

5 December 2007, MADRID - Consumer confidence in Spain dropped slightly to a new record low in November as households continued to fret about the current state of the economy in the wake of the market turbulence sparked by the US subprime mortgage crisis.

5 December 2007

MADRID - Consumer confidence in Spain dropped slightly to a new record low in November as households continued to fret about the current state of the economy in the wake of the market turbulence sparked by the US subprime mortgage crisis.

The state-owned lender Instituto de Crédito Oficial (ICO) said yesterday its consumer-confidence index (ICC) last month dropped for the seventh month in a row to 76.1 points from 76.2 points in October. The index has fallen 14.3 points since November of last year.

However, the ICO said the expectations component of the index improved 2.5 points as consumers expressed more upbeat feelings about the future course of the economy.

[Copyright EL PAÍS, SL. 2007]

Subject: Spanish news

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