Portugal: Consumer and business confidence remain negative
February 28, 2012
The 3-month moving average of consumer confidence improved from 56.6 points in January to minus 54.3 points in February. Despite the improvement, the reading remains just a notch above the historic low recorded in January. According to the statistical institute, the improvement in consumer confidence was driven by higher readings in all its components, except for the employment perspectives category. Meanwhile, the 3-month moving average of business confidence deteriorated from minus 24.1 points in January to minus 24.5 points in February. Moreover, the 3-month moving average of the economic climate indicator continued the downward trend in place since July 2010, falling from minus 4.7 points in January to minus 4.9 points in February, which represents the lowest value of the series.