Portugal: Consumer confidence and economic climate indicator continue their ascent in April
April 27, 2017
The survey of consumer sentiment produced by the National Statistical Institute (INE) showed that consumer confidence surged from minus 1.5 points in March to 0.2 points in April, the highest figure in nigh on 20 years. April’s significant uptick was driven by improvements in consumers’ perceptions of their financial situation, the general economic situation in the country, unemployment and savings over the next 12 months.
The Institute’s overall economic climate indicator ticked up from 1.6 points in March to 1.8 points in April. April’s rise was underpinned by improved business sentiment in the trade, services, manufacturing and construction and public works sectors. The positive figures for business and consumer confidence show that the economy continues to build up a head of steam, after recently released data which showed that the fiscal deficit fell to the lowest level in more than 40 years in 2016.
Author: Oliver Reynolds, Economist