Portugal: Consumer confidence and economic climate indicators continue their ascent in June
July 4, 2017
The survey of consumer sentiment produced by the National Statistical Institute (INE) showed that consumer confidence soared from 1.7 points in May to a record high of 3.1 points in June. June’s significant uptick was driven by improvements in consumers’ perception of the general economic situation in the country, their opinion regarding their personal finances over the next 12 months and unemployment over the coming year. In contrast, consumers grew slightly more negative regarding savings.
The Institute’s overall economic climate indicator ticked up from 2.0 points in May to 2.1 points in June. June’s rise was underpinned by improved business sentiment in the manufacturing, trade and construction and public works sectors, while sentiment in the service sector worsened slightly, despite remaining in positive territory.
Author: Oliver Reynolds, Economist