FX.co ★ Spanish Consumer Sentiment Dips in May as PCSI Edges Lower to 46.62

Spain’s consumer confidence weakened slightly in May 2026, with the Thomson Reuters IPSOS Primary Consumer Sentiment Index (PCSI) easing to 46.62 from 47.16 in April 2026, according to data updated on 14 May 2026.

On a month-over-month basis, the latest reading points to a modest deterioration in sentiment compared with the previous month’s level. In April, the index had stood at 47.16, already below the neutral 50 line that typically separates pessimism from optimism. The May decline suggests that Spanish households remain cautious about the economic outlook, with no clear sign yet of a decisive improvement in confidence.

The data are presented on a month-over-month comparison basis, meaning the current May figure is evaluated against April’s reading, while April’s index had itself been compared to March. This sequential view highlights a continued soft patch in Spanish consumer sentiment as 2026 progresses.