Portugal: Consumer sentiment improves but economic climate weakens marginally in May
Consumer confidence improved to minus 30.1 in May, up from minus 32.9 in April. The print came amid lower pessimism among households regarding both the future evolution of the country’s economic situation and households’ financial situation in the coming 12 months.
Meanwhile, the three-month moving average of the economic climate indicator ticked down to 2.0 in May, from April’s 2.2. Looking at the details, sentiment among firms in the manufacturing, trade and construction sectors weakened. Contrastingly, firms in the services sector became more optimistic.