Portugal Economic Sentiment June 2020

Portugal

Portugal: Consumer and business sentiment gain traction in June but remain deep in pessimistic territory

June 29, 2020

Consumer sentiment rose again from minus 32.1 in May to minus 25.7 in June on the back of continued easing of Covid-19-related restrictions. All subcomponents of the indicator saw improvements in June: Households turned less pessimistic over their current financial situation and in the year ahead; their ability to purchase big-ticker items; and over the general economic environment in the next 12 months.

Similarly, the economic climate indicator climbed in June, coming in at minus 2.5 (May: minus 5.1). The upturn was broad-based, with pessimism in the manufacturing, construction, trade and services sectors all easing from the previous month.

FocusEconomics panelists see private consumption contracting 7.0% in 2020, which is down 0.2 percentage points from last month’s forecast, and then growing 5.0% in 2021. Panelists project fixed investment to shrink 17.0% in 2020, which is up 1.5 percentage points from last month’s forecast, before growing 9.0% in 2021.


Author:, Economist

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Portugal Economic Sentiment June 20 20

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


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