Portugal: Consumer confidence improves slightly, business sentiment more upbeat in June
June 29, 2021
Consumer sentiment increased moderately to minus 12.6 in June, after May’s minus 12.8, with the improvement likely curtailed by increasing Covid-19 activity threatening the return of restrictions. Consumers’ views on the future of the economy and their prospective financial situation both deteriorated, with views on the latter becoming pessimistic after recording optimism in May. In contrast, households became less downbeat regarding their financial situation over the past 12 months.
Meanwhile, the three-month moving average of the economic climate indicator came in at 1.6 in June, up from 0.5 in May, as firms in the construction, manufacturing, retail and services industries became more upbeat.
Author: Frederico Teixeira de Abreu, Junior Economist