Portugal Economic Sentiment October 2021


Portugal: Consumer confidence ebbs, economic sentiment rises to over one-year high in October

October 28, 2021

Consumer confidence declined to minus 11.0 in October, following September’s minus 9.9. October’s result was dragged by households’ more pessimistic views on the economy in the next 12 months. This likely reflected the impact of looming political instability, culminating in the rejection of the 2022 draft budget on 27 October. Meanwhile, higher fuel and energy prices prompted households to become severely less upbeat about their future financial situation. Moreover, households also became more pessimistic regarding their financial situation in the last 12 months.

Meanwhile, the three-month moving average of the economic climate indicator clocked in at 2.0 in October, above 1.6 in September. Sentiment among firms in the services and trade sectors became significantly more optimistic, while sentiment in the construction sector became less pessimistic. Contrastingly, sentiment in the manufacturing sector became more pessimistic.

FocusEconomics panelists see private consumption climbing 4.5% in 2022, which is up 0.6 percentage points from last month’s forecast. In 2023 private consumption is seen growing 4.5%. Panelists project fixed investment to expand 5.5% in 2022, which is down 0.7 percentage points from last month’s forecast. In 2023 they see it growing 5.0%.

Author:, Junior Economist

Sample Report

Looking for forecasts related to Economic Sentiment in Portugal? Download a sample report now.


Portugal Economic Sentiment Chart

Portugal Economic Sentiment October 2021 0

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

Portugal Economic News

More news

Search form