FX.co ★ Spanish Consumer Sentiment Slips Below 50 as PCSI Falls in August

Spain’s consumer confidence edged lower in August, with the Thomson Reuters IPSOS Primary Consumer Sentiment Index (PCSI) slipping to 48.47, down from 50.64 in July 2026. The latest reading, updated on 13 August 2026, marks a month-over-month decline that pulls the index back below the neutral 50 threshold, signaling a deterioration in overall sentiment.

The month-over-month comparison highlights a shift from a relatively more optimistic stance in July to a more cautious outlook in August. While July’s figure of 50.64 suggested marginally positive sentiment compared with June, the August drop indicates that Spanish consumers have become more reserved about current and near-term economic conditions.

This August move is assessed on a strictly month-over-month basis, meaning the current reading is measured against July, while July was itself compared with June. The reversal below 50 underscores growing unease among households, which could have implications for consumer spending trends as the third quarter progresses.