The economic climate indicator, which summarizes the balance of extreme responses to questions relating to qualitative surveys of companies, increased between November and January, and consumer prices accelerated to 2,3% in January, INE announced today.
According to the “Síntese Económica de Conjuntura” from the National Statistics Institute (INE), from an expenditure perspective, the economic activity indicator increased less intensely in December, with the private consumption indicator accelerating and the investment indicator presenting a decrease year-on-year.
According to the statistical institute, short-term indicators, available for December, reveal a real acceleration in construction and a decrease in industry and services.
The construction production index accelerated to a year-on-year variation of 5,5% in December, after having increased by 5% in the previous month, and in the fourth quarter of 2023, that index increased by 5,4% (5,7% in the previous quarter) and in total for the year 2023 there was an increase of 5,8%, accelerating significantly compared to 2022 (2,3%).
The quantitative indicator of private consumption accelerated in November and December, after having slowed down in the previous month, and the consumer confidence indicator increased in December and January, after having decreased in the previous four months.
As for investment, the Gross Fixed Capital Formation (GFCF) indicator decreased, in year-on-year terms, in December, after eight months of positive rates of change.
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