Portugal Economic Sentiment December 2020

Portugal

Portugal: Consumer sentiment improves again in December; business sentiment remains unchanged

January 4, 2021

Consumer sentiment rose to minus 24.3 in December, from minus 29.6 in November. The upturn was broad-based as consumers grew less pessimistic on all fronts: households grew more positive on their future and past financial situation, while their view on the future of the economy this year improved dramatically, despite remaining in pessimistic territory.

The economic climate indicator remained stable at minus 0.1 in December, as companies in the construction, services and trade sectors grew more pessimistic. However, businesses in the manufacturing sector became less gloomy, mainly regarding current demand and stocks.

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 December 20 20

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


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