Portugal Economic Sentiment February 2021

Portugal

Portugal: Consumer sentiment slips in February amid lockdown; business sentiment continues to deteriorate

February 25, 2021

Consumer sentiment fell to minus 25.8 in February, from minus 23.1 in January. The downupturn was mainly led by a sharp deterioration in household’s’ outlook for the economy in the next 12 months, which was likely driven by the current lockdown. In addition, expectations regarding important purchases in the same period also worsened.

The three-month moving average of the economic climate indicator slipped to minus 1.0 in February, from minus 0.7 in January, as the lockdown also ledwith companies in the services and trade sectors to growgrowing more pessimistic. However, businesses in the manufacturing and construction sectors became less gloomy.

FocusEconomics panelists see private consumption climbing 3.8% in 2021, which is down 0.3 percentage points from last month’s forecast. In 2022 private consumption is seen growing 3.5%. Panelists project fixed investment to expand 4.9% in 2021, which is up 0.5 percentage points from last month’s forecast. In 2022 they see it growing 7.5%.


Author:, Junior Economist

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Portugal Economic Sentiment Chart


Portugal Economic Sentiment February 2021

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


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