Portugal Economic Sentiment February 2020

Portugal

Portugal: Consumer confidence improves in February while business confidence remains stable

February 27, 2020

Consumer sentiment rose to minus 7.6 points in February from minus 8.4 points in January, ending a 3-month run of declining confidence. The improvement principally reflected a marked increase in optimism regarding households’ own financial situation for the coming 12 months, as well as a slightly less pessimistic view on the general economic outlook in the country for the same period. Furthermore, households were less downbeat regarding their financial situation over the previous 12-month period, although they were marginally less inclined to make major purchases in the coming year.

Meanwhile, the overall economic climate indicator remained at the previous month’s 2.2 points in February. Business sentiment improved in the construction sector, while confidence indicators fell for the trade, manufacturing and service sectors—the latter driven by evaporating optimism toward the general business situation and demand levels.

FocusEconomics panelists see private consumption growing 1.8% in 2020 which is up 0.1 percentage points from last month’s forecast, and 1.5% in 2021. Panelists project fixed investment to increase 3.1% in 2020, which is down 0.7 percentage points from last month’s forecast, and 3.8% in 2021.


Author:, Economist

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Portugal Economic Sentiment February 20 20 2

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


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