Portugal Economic Sentiment May 2021

Portugal

Portugal: Consumer confidence improves, business sentiment turns optimistic in May

May 28, 2021

Consumer sentiment jumped to minus 12.8 in May, above April’s minus 17.1. This was likely supported by the lifting of the lockdown in April. The uptick was due to a significant ease in pessimism regarding the future of the economy. Moreover, households’ views on their financial situation for the next year turned slightly optimistic for the first time since the pandemic began.

Meanwhile, the three-month moving average of the economic climate indicator came in at 0.5 in May, up from minus 0.8 in April, with companies in the construction, services and retail sectors turning less pessimistic in the month. In addition, the manufacturing sector recorded the best reading for over two years.

FocusEconomics panelists see private consumption climbing 3.0% in 2021, which is down 0.2 percentage points from last month’s forecast. In 2022 private consumption is seen growing 3.8%. Panelists project fixed investment to expand 3.7% in 2021, which is down 0.2 percentage points from last month’s forecast. In 2022 they see it growing 6.6%.


Author:, Junior Economist

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Portugal Economic Sentiment Chart


Portugal Economic Sentiment May 2021

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


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