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.
Author: Stephen Vogado, Economist