Portugal Economic Sentiment November 2020


Portugal: Business and consumer sentiment deteriorate in November

November 27, 2020

Consumer sentiment fell to minus 29.6 in November, from minus 24.6 in October. Consumers felt slightly less pessimistic on their past financial situation. However, consumers’ expectations regarding both their future financial situation and the future of the economy deteriorated. Moreover, they became gloomier regarding important purchases over the next twelve months.

The economic climate indicator slipped to minus 0.1 in November, from 0.0 in October, as companies in the manufacturing, construction and trade sectors became slightly more pessimistic. However, businesses in the service sector became less gloomy.

FocusEconomics panelists see private consumption climbing 3.9% in 2021, which is down 0.9 percentage points from last month’s forecast. In 2022, private consumption is seen growing 3.0%. Panelists project fixed investment to expand 4.2% in 2021, which is down 0.8 percentage points from last month’s forecast. In 2022 they see it growing 7.0%.

Author:, Junior Economist

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Portugal Economic Sentiment Chart

Portugal Economic Sentiment November 20 20

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

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