Portugal: Confidence indicators tick up in August
August 30, 2016
The survey of consumer sentiment produced by the National Statistical Institute showed that the consumer confidence index inched up from minus 13.1 points in July to minus 12.7 points in August. According to the Institute, August’s timid increase reflected that consumers were less pessimistic about the country’s economic prospects in the coming 12 months. However, the survey showed that households were less optimistic than last month regarding their financial situation, although their mood improved when asked about their future employment prospects.
The Institute’s overall economic climate indicator edged up from 1.3 points in July to 1.4 points in August, reaching the highest level since September 2015. The mild improvement reflected 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: Andrea Vetrugno, Economist