Portugal: Consumer confidence improves and economic climate stabilizes in September
September 29, 2016
The survey of consumer sentiment produced by the National Statistical Institute showed that the consumer confidence index inched up from minus 12.7 points in August to minus 11.3 points in September. According to the Institute, September’s increase reflected an overall improvement across all the components of the indicator. Consumers were more positive about the country’s economic prospects in the coming 12 months. Households were also less pessimistic regarding their financial situation, although their mood deteriorated when asked about their future employment prospects.
The Institute’s overall economic climate indicator stabilized at August’s 1.4 points in September, remaining at the highest level since September 2015. The stabilization reflected that, along with an increase in consumer confidence, economic sentiment among manufacturing and construction businesses improved over the previous month, while confidence fell in the trade and services sectors.
Author: Andrea Vetrugno, Economist