ICC-ICO gives an insight into consumers’ spending intentions by asking them
about the way they see things at present and their expectations for the future as
regards the country’s economy, their household economy and employment. The
indicator is based on a monthly telephone survey carried out by Instituto OPINA
on a sample of 1,000 people aged over 16 who are representative of Spanish
society as a whole.
The ultimate aim of this indicator, a new addition to the stream of economic
indicators prepared by Spanish institutions, is to become a useful tool in the
interpretation and forecasting of private consumer behaviour in Spain. Mindful
of the fact that household consumption accounts for almost 60% of Spain’s
GDP, Instituto de Crédito Oficial seeks to make ICC-ICO into an effective
instrument with which to foresee possible points of inflection in economic
conditions.