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Financial decision-maker sentiment: Spain

An ongoing look at how the attitudes of financial decision makers in Spain are evolving during the COVID-19 pandemic.

Almost all consumers view the current economy as weak or neutral, but expectations for the economy in the next 3 months are improving. About half of consumers report decreased household income, savings and spending over the past month. Most feel banks are performing per their expectations; however sentiment is net negative with 27 percent feeling they are performing below expectations. A third of consumers have increased their use of electronic payments, while almost half have decreased their use of cash. The overall outlook for the economy is still net pessimistic with a third believing COVID-19 will have a long lasting impact on the economy.

About the author(s)

John Euart an associate in McKinsey’s New York office, Nuno Ferreira is an associate partner in the Lisbon office, Gonçalo Niza is a specialist in the Madrid office, and Nadya Snezhkova is a specialist in the London office.

The authors would like to thank Harshit Gupta for his contributions to this article.

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