Portugal Economic Sentiment September 2020

Portugal

Portugal: Business sentiment improves, consumer confidence deteriorates in September

September 28, 2020

Consumer sentiment fell to minus 26.6 in September, from minus 25.3 in August. Consumers felt slightly more pessimistic on their past and future financial situation as well as on the future of the economy. However, they became less gloomier regarding important purchases for the next twelve months.

The economic climate indicator ticked up to reach minus 0.5 in September, from minus 1.3 in August, as all sectors became less pessimistic, notably the services sector.

FocusEconomics panelists see private consumption contracting 8.4% in 2020, which is down 0.2 percentage points from last month’s forecast, and then growing 4.9% in 2021, which is down 0.4 percentage points from the previous month’s forecasts. Panelists project fixed investment to shrink 6.6% in 2020, which is up 3.2 percentage points from last month’s forecast, before growing 5.5% in 2021, which is down 1.9 percentage points from the previous month’s forecasts.


Author:, Junior Economist

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Portugal Economic Sentiment September 20 20

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


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