Portugal Economic Sentiment October 2016

Portugal

Portugal: Consumer confidence improves but economic climate slides in October

The survey of consumer sentiment produced by the National Statistical Institute (INE) showed that consumers were less negative in October, with the index inching up from minus 11.3 points in September to minus 10.7 points. The figure was the highest reading in nine months. In October, consumers’ perceptions regarding the country’s economic situation in the next 12 months improved and they were less pessimistic about their personal finances.

The Institute’s overall economic climate indicator inched down from 1.4 points in September to 1.3 points in October. According to INE, the confidence indicator increased in the manufacturing and construction sectors, but decreased slightly in trade and services.

The Bank of Portugal expects the economy to expand 1.1% this year. FocusEconomics Consensus Forecast panelists expect GDP to expand 1.0% in 2016, which is unchanged from last month’s projection. For 2017, the panel foresees the economy growing 1.2%, which is also unchanged from last month’s forecast.


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Portugal Economic Sentiment Chart


Portugal Economic Sentiment October 2016

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


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