Portugal: Consumer sentiment continues improving in January; business sentiment deteriorates
January 28, 2021
Consumer sentiment rose to minus 23.1 in January, from minus 24.3 in December. The upturn was mainly led by improving expectations on the performance of the economy this year. Moreover, households became slightly less pessimistic regarding important purchases. Contrastingly, households’ views on their financial situation over the past year deteriorated somewhat.
The economic climate indicator slipped to minus 0.7 in January, from minus 0.3 in December, as companies in the manufacturing and trade sectors grew more pessimistic. However, businesses in the services sector became less gloomy. In addition, construction firms also grew less pessimistic amid improved sentiment regarding civil engineering projects.
Author: Frederico Teixeira de Abreu, Junior Economist