Portugal: Consumer confidence recovers ground lost and business sentiment remains positive
March 30, 2016
According to the March survey of consumer confidence elaborated by the National Statistical Institute, the consumer sentiment index rose to minus 11.7 points. The result came in above the minus 13.3 points registered in February. According to the Institute, the slight recovery in sentiment in March was mainly the result of households’ better prospects regarding employment. That said, consumers are still preoccupied by the overall economic situation as well as regarding their own financial situation.
Simultaneously, the Institute’s economic climate indicator, which reflects economic sentiment in Portugal’s main industrial sectors, jumped from 0.7 points in February to 1.1 points in March. The improvement pushed the indicator to its highest level since October 2015 and mainly reflected improving economic sentiment in construction and public works, as well as in trade and services. Conversely, the Institute reported that economic sentiment in manufacturing fell over the previous month.
Author: Ricardo Aceves, Senior Economist