Portugal Economic Sentiment December 2021


Portugal: Consumer confidence remains stable, economic sentiment improves in December

January 4, 2022

Consumer confidence was virtually unchanged at November’s minus 19.2 in December. December’s print came as a significant improvement in household’s views regarding the general economic situation in the coming 12 months was offset by a deterioration in their expectations regarding their financial situation for the same period.

Meanwhile, the three-month moving average of the economic climate indicator clocked in at 2.0 in December, marginally higher than November’s 1.9. Among key business sectors, manufacturing, trade and services sectors all improved in the month. However, sentiment among construction firms deteriorated.

FocusEconomics panelists see private consumption climbing 4.5% in 2022, which is unchanged from last month’s forecast. In 2023 private consumption is seen growing 1.9%. Panelists project fixed investment to expand 4.7% in 2022, which is down 0.2 percentage points from last month’s forecast. In 2023 they see it growing 4.1%.

Author:, Junior Economist

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Portugal Economic Sentiment Chart

Portugal Economic Sentiment December 2021

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

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