Portugal: Confidence indicators edge up in July
July 28, 2016
The survey of consumer sentiment elaborated by the National Statistical Institute showed that the consumer confidence index inched up from minus 13.9 points in June to minus 13.1 points in July. According to the Institute, July’s mild increase reflected households’ less pessimistic views regarding their financial expectations for the next 12 months. The survey showed that consumers were more downbeat regarding the country’s economic prospects in the coming 12 months, although households were slightly more optimistic regarding employment prospects than in the previous month.
The Institute’s overall economic climate indicator inched up from 1.2 points in June to 1.3 points in July and thus reached its highest point since September 2015. The mild improvement showed that, along with an increase in consumer confidence, economic sentiment among Portuguese businesses, particularly in the manufacturing, construction and trade sectors, had improved over the previous month.
Author: Ricardo Aceves, Senior Economist