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