Portugal Economic Sentiment September 2016


Consumer confidence improves and economic climate stabilizes in September

The survey of consumer sentiment produced by the National Statistical Institute showed that the consumer confidence index inched up from minus 12.7 points in August to minus 11.3 points in September. According to the Institute, September’s increase reflected an overall improvement across all the components of the indicator. Consumers were more positive about the country’s economic prospects in the coming 12 months. Households were also less pessimistic regarding their financial situation, although their mood deteriorated when asked about their future employment prospects.

The Institute’s overall economic climate indicator stabilized at August’s 1.4 points in September, remaining at the highest level since September 2015. The stabilization reflected that, along with an increase in consumer confidence, economic sentiment among manufacturing and construction businesses improved over the previous month, while confidence fell in the trade and services sectors.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.0% in 2016, which is unchanged from last month’s estimate. For 2017, the panel expects private consumption to increase 1.5%. Panelists expect fixed investment to decrease 0.5% in 2016, which is down 0.4 percentage points from last month’s estimate. The panel sees fixed investment expanding 2.3% in 2017.

Author:, Economist

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Portugal Economic Sentiment Chart

Portugal Economic Sentiment September 2016

Note: Consumer Confidence and Economic Climate indicators.
Source: Statistics Portugal (INE).

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