Portugal Economic Sentiment January 2017

Portugal

Portugal: Consumer confidence and economic climate inch upwards in January

January 30, 2017

The survey of consumer sentiment produced by the National Statistical Institute (INE) showed that consumers were less negative in January, with the index inching up from minus 4.7 points in December to minus 4.6 points. The reading marked a multi-year high. In January, consumers’ perceptions regarding the country’s economic situation in the next 12 months improved and they were more optimistic about their personal finances. Their previous optimism towards unemployment in the coming year, on the other hand, turned to pessimism as sentiment fell for a sixth consecutive month.

The Institute’s overall economic climate indicator rose from 1.1 points in December to 1.2 points in January. According to INE, the confidence indicator increased across all sectors, with the most significant gains seen in manufacturing and services.

FocusEconomics Consensus Forecast panelists expect GDP to expand 1.4% in 2017, which is up 0.1 percentage points from last month’s projection. For 2018, the panel also foresees the economy growing 1.4%.


Author:, Economist

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Portugal Economic Sentiment January 2017

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


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