Portugal: Consumer confidence drops to record-low in October
October 30, 2012
The October consumer confidence index fell to minus 61.1 points from minus 56.0 points in September, reaching its lowest level since records began. At the current level, consumer sentiment is 5.3 points below the levels observed in the same month last year. Consumers were substantially more pessimistic about their financial situation in the next 12 months and expected higher unemployment. Meanwhile, the economic climate indicator fell from minus 4.2 points in September to minus 4.6 points in October, the lowest level in five months. The decrease came on the back of deteriorations across all sectors.