Portugal Economic Sentiment January 2021

Portugal

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.

FocusEconomics panelists see private consumption climbing 4.1% in 2021, which is up 0.2 percentage points from last month’s forecast. In 2022 private consumption is seen growing 3.4%. Panelists project fixed investment to expand 4.4% in 2021, which is up 0.2 percentage points from last month’s forecast. In 2022 they see it growing 7.8%.


Author:, Junior Economist

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Portugal Economic Sentiment Chart


Portugal Economic Sentiment January 2021

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


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