Portugal Economic Sentiment July 2022

Portugal

Portugal: Consumer sentiment strengthens while business confidence weakens in July

August 12, 2022

Consumer confidence rose to minus 31.1 in July, up from minus 32.5 in June. The print came amid less pronounced 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 1.8 in July, from June’s 1.9. Looking at the details, sentiment among firms in the manufacturing, commercial and services sectors weakened. Contrastingly, sentiment in the construction sector improved.

FocusEconomics panelists see private consumption climbing 4.4% in 2022, which is down 0.1 percentage points from last month’s forecast. In 2023 private consumption is seen growing 2.1%. Panelists project fixed investment to expand 3.4% in 2022, which is down 1.3 percentage points from last month’s forecast. In 2023 they see it growing 4.4%.


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