Portugal: Consumer confidence rises to over one-year high in May
Consumer confidence rose to minus 27.0 in May from April’s minus 30.2. May’s result marked the best reading since February 2022.
May’s increase was driven by improvements on households’ views about their financial situation and the country’s over the next 12 months. That said, consumers became less likely to purchase big-ticket items in the same time horizon.
Meanwhile, the three-month moving average of the economic climate indicator came in at 2.0 in May, below 2.2 in April.