Lisbon, Portugal street

Portugal Economic Sentiment June 2020

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

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.

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