Portugal Economic Sentiment September 2021

Portugal

Portugal: Consumer confidence hits highest reading since February 2020, economic sentiment ebbs in September

September 29, 2021

Consumer confidence ticked up to minus 9.9 in September, following August’s minus 11.9, which means consumers became less pessimistic. September’s result marked the highest level of consumer sentiment since February 2020. In detail, households’ views on the outlook for the economy became less downbeat, as did their financial situation for the past year. Moreover, consumers turned upbeat regarding their future financial situation.

Meanwhile, the three-month moving average of the economic climate indicator clocked 1.6 in September, below 1.8 in August, as sentiment among firms in the trade and in the services sub-sectors both became less optimistic. Contrastingly, firms in the manufacturing sub-sector improved, becoming less pessimistic.

FocusEconomics panelists see private consumption climbing 3.9% in 2021, which is up 0.8 percentage points from last month’s forecast. In 2022 private consumption is seen growing 4.5%, which is up 0.1 percentage points from the previous month’s estimate. Panelists project fixed investment to expand 6.2% in 2021, which is down 0.1 percentage points from last month’s forecast. In 2022 they see it growing 5.0%, which is also down 0.1 percentage points from the previous month’s estimate.


Author:, Junior Economist

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Portugal Economic Sentiment Chart


Portugal Economic Sentiment September 2021

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


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