Portugal Economic Sentiment June 2022

Portugal

Portugal: Consumer and business sentiment weaken in June

July 21, 2022

Consumer confidence fell to minus 32.5 in June, down from minus 30.1 in May. The print came amid higher pessimism among households regarding both the future evolution of the country’s economic situation and households’ financial situation in the coming 12 months.

Meanwhile, the three-month moving average of the economic climate indicator ticked down to 1.9 in June, from May’s 2.0. Looking at the details, sentiment among firms in the construction and public works sectors weakened. Contrastingly, sentiment in the services, manufacturing and trade sectors improved.

FocusEconomics panelists see private consumption climbing 4.4% in 2022, which is down 0.1 percentage points from last month’s forecast. In 2023 private consumption is seen growing 2.1%. Panelists project fixed investment to expand 3.4% in 2022, which is down 1.3 percentage points from last month’s forecast. In 2023 they see it growing 4.4%.


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