Portugal Economic Sentiment July 2020


Portugal: Business sentiment improves, consumer sentiment

July 30, 2020

Consumer sentiment fell to minus 27.1 in July from June’s minus 25.7 as Covid-19 cases mounted, putting an end to two months of recovery since April. The deterioration came as households were more downbeat on the recent evolution of their financial situation and more pessimistic about the overall future economic situation of the country over the next twelve months. In contrast, households’ willingness to buy major items and views regarding their financial situation over the next 12 months improved somewhat.

The economic climate indicator rose in July to minus 2.9 (June: minus 4.3) amid reduced pessimism across sectors.

FocusEconomics panelists see private consumption contracting 7.5% in 2020, which is down 0.5 percentage points from last month’s forecast, and then growing 4.9% in 2021. Panelists project fixed investment to shrink 13.2% in 2020, which is up 3.8 percentage points from last month’s forecast, before growing 6.7% in 2021.


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Portugal Economic Sentiment Chart

Portugal Economic Sentiment July 20 20 1

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

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