Portugal Economic Sentiment December 2016

Portugal

Portugal: Consumer confidence improves but economic climate slides in December

January 6, 2017

The survey of consumer sentiment produced by the National Statistical Institute (INE) showed that consumers were less negative in December, with the index inching up from minus 9.3 points in November to minus 4.7 points. The figure marked a multi-year high. In December, consumers’ perceptions regarding the country’s economic situation in the next 12 months improved and they were less pessimistic about their personal finances.

The Institute’s overall economic climate indicator inched down from 1.3 points in November to 1.2 points in December. According to INE, the confidence indicator increased in the manufacturing and construction sectors, but decreased slightly in trade and services.

FocusEconomics Consensus Forecast panelists expect GDP to expand 1.0% in 2017, which is unchanged from last month’s projection. For 2018, the panel foresees the economy growing 1.2%, which is also unchanged from last month’s forecast.


Author:, Senior Economist

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Portugal Economic Sentiment December 2016

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


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