Specifically, a general government primary surplus of 0.7% of GDP was achieved in 2015 (according to the economic adjustment programme definition), against a target for a primary deficit of 0.25% of GDP. The gradual restoration of confidence and the easing of uncertainty are reflected in the evolution of several leading indicators of economic activity, which improved considerably between September 2015 and January 2016.
The positive trend of leading indicators continued into the first four months of 2016, except for a weakening in February. For example: • The economic sentiment indicator has been on the rise since September 2015, on the back of improvements in most business sub-indices. However, the consumer confidence indicator continues to decline, reflecting households’ uncertainty about their future economic condition.