According to the National Statistics Institute (INE), the balance of opinions on past price developments increased “ significantly” this month, after decreasing in the previous five months.

“The evolution of the indicator in the last month resulted from the negative contribution of opinions about the past evolution of the household's financial situation and expectations of the future evolution of the country's economic situation and the household's financial situation. Conversely, only expectations regarding the evolution of important purchases made by families made a positive contribution”, explains INE and reported in ECO.

The economic climate indicator also decreased between July and October, although “slightly in the last month”, points out the institute. Confidence indicators decreased in the manufacturing industry, construction and public works, and services, having increased in commerce.

In industry, the confidence indicator decreased in the consumer goods and intermediate goods groups, having increased in the investment goods group, “reversing the significant reduction observed in the previous month in the motor vehicle manufacturing sub-group”, details the statistics office.

The balance of entrepreneurs' expectations regarding the future evolution of sales prices decreased in all sectors surveyed, but more intensely in the manufacturing industry. In the industrial field, 55.1% of companies foresee a stabilization of investment in 2024, compared to this year, with 32% estimating an increase and 13% a decrease.

Still in the manufacturing industry, the balance of assessments regarding global demand decreased in October, contrary to the increase seen in September. Opinions regarding domestic demand deteriorated this month, after recovering in August and September, while assessments regarding external demand, on the other hand, deteriorated in the last four months.