Portugal Economic Sentiment September 2017

Portugal

Portugal: Consumer confidence declines in September, while economic sentiment is unchanged

September 28, 2017

The survey of consumer sentiment produced by the National Statistical Institute (INE) showed that consumer confidence deteriorated from 1.1 points in August to 0.7 points in September. The decline was a result of consumers’ more negative perception of unemployment and the general economic situation of the country over the next 12 months. On the other hand, consumers became more optimistic regarding their financial situation and savings over the next twelve months.

The overall economic climate indicator was unchanged at 2.1 points in September. While sentiment in the manufacturing, construction and services sectors improved, sentiment in the trade sector worsened.

Panelists expect fixed investment to increase 8.2% in 2017, which is up 0.1 percentage points from last month’s estimate. The panel sees fixed investment expanding 3.9% in 2018, which is unchanged from last month’s forecast. Panelists expect private consumption to increase 2.3% in 2017, down 0.1 percentage points from last month’s forecast. For 2018, panelist expect private consumption to grow 1.8%, unchanged from last month’s forecast.


Author:, Economist

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Portugal Economic Sentiment September 2017 0

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


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