Portugal Economic Sentiment June 2021


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.

FocusEconomics panelists see private consumption climbing 2.5% in 2021, which is unchanged from last month’s forecast. In 2022 private consumption is seen growing 4.0%. Panelists project fixed investment to expand 4.0% in 2021, which is up 0.6 percentage points from last month’s forecast. In 2022 they see it growing 6.8%.

Author:, Junior Economist

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Portugal Economic Sentiment Chart

Portugal Economic Sentiment June 2021

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

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