The consumer confidence indicator continued to rise in April and reached its highest value since February 2022, while the economic climate indicator reversed the previous month's rise, INE announced today.
According to the results of the Business and Consumer Surveys, published today by the National Statistics Institute (INE), the consumer confidence indicator increased between December and April, "registering the highest value since February 2022 and standing above the historical average of the series".
The balance of consumer opinions on past price developments increased in April, after two months of decline, while the balance of perspectives on future price developments decreased "slightly" in the month under review, after a significant increase in January.
The economic climate indicator, based on business surveys, fell in April, "contrary to the increase recorded in the previous month".
In the month under review, confidence indicators fell in manufacturing and services and rose in trade and construction and public works.
Fall in imports and exports
Exports and imports fell by 4.2% and 6.0% in nominal terms in the 1st quarter compared to the same period in 2023, according to INE's flash estimate of international trade in goods.
INE points out that the decrease in goods transactions is the fourth quarter in a row, and is more pronounced than in the previous quarter, when there were year-on-year variations of -1.8% in exports and -5.3% in imports.
House valuations rise
The median value of bank appraisals for housing increased by 6.5% in March, compared to the same month in 2023, to 1,580 euros per square meter (m2), INE reported.
In nominal terms, the year-on-year increase was 97 euros. Comparing March with February (chain variation), the increase is 1.3% (20 euros in nominal terms).
The median value of bank appraisals for housing has risen for five consecutive months (since November). The variations recorded in March are higher than in February (then the year-on-year increase was 5.5% and the chain increase was 0.6%).
The number of bank appraisals in March was 30,523 (19,499 apartments and 11,024 houses), up 40.9% year-on-year and 7.8% on February.
Tourism grows
The tourist accommodation sector recorded 2.3 million guests and 5.7 million overnight stays in March 2024, corresponding to variations of +12.2% and +12.8% respectively (+7.1% and +6.4% in February 2024, in the same order).
Overnight stays from residents grew by 10.3% to 1.6 million, while those from non-residents increased by 13.8% to 4.1 million.
Occupancy in tourist accommodation establishments increased in March, to 42.2% and 51.7%, in the net bed occupancy and room occupancy rates, respectively (+2.9 p.p. and +1.5, p.p. respectively).
In the 1st quarter of 2024, overnight stays increased by 7.1%, +3.9% for residents and +8.7% for non-residents.
These results were influenced by the Easter vacations, which this year were spread between March and April, whereas in the previous year they were concentrated only in April.
