Portugal Economic Sentiment


Leading indicators remain on upward trend in January

In January, the consumer confidence index rose to minus 32.3 points, which came in above the minus 36.8 points tallied in December and marked the highest level since January 2010. According to the statistical institute, the increase in consumer confidence was broad-based, though it was mainly driven by improving job prospects and a more optimistic assessment of the country's economic situation.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 0.2% in 2014, which is up 0.2 percentage points from last month's estimate. For 2015, the panel expects private consumption to increase 0.8%.

The economic climate indicator also improved in January, increasing from minus 1.1 points in December to minus 0.8 points. January's print marks the highest level since November 2010. Despite the improvement seen in recent months, economic sentiment remains weak, which does not bode well for economic activity in the near term.

FocusEconomics Consensus Forecast panelists expect fixed investment to increase 0.7% in 2014, which is unchanged from last month's estimate. For 2015, the panel sees fixed investment expanding 2.0%.

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Portugal Economic Sentiment Chart

Portugal Economic Sentiment January 2014

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

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