Portugal: Consumer confidence rises in September, while the economic climate indicator inches down
Consumers became slightly less pessimistic in September, with the consumer confidence index rising to minus 7.2 points from minus 7.8 points in August. The upturn reflected increased optimism among households over their financial situation in the next 12 months and a less downbeat outlook on the country’s general economic situation in the year ahead. Households were also less pessimistic about purchasing big-ticket items over the next year. Improvements in these sub-components countered a more unfavorable assessment on personal finances over the last 12 months.
Meanwhile, the overall economic climate indicator inched down to 2.2 points in September, after remaining stable at 2.3 points in August. Business sentiment deteriorated in the manufacturing, construction and public works, and services sectors. The outlook on demand was more downbeat in manufacturing, while assessments on future employment worsened in the construction and public works sector. Meanwhile, in the services sector, assessments on the business situation and demand over the three months were less upbeat, and the outlook on future demand was slightly less positive. On the upside, the trade sector was marginally more optimistic, thanks to a marked rise in confidence in retail trade.