Portugal: Economic climate remains depressed
January 30, 2013
The January consumer confidence index improved slightly to minus 57.8 points from minus 58.4 points in December. At the current level, consumer sentiment is 1.2 points below the levels observed in the same month last year. Consumers were slightly less pessimistic about the national outlook in the next 12 months. In addition, a lower number of respondents expected a higher unemployment rate. Consensus Forecast private consumption.
Meanwhile, the economic climate indicator inched up from minus 4.4 points in December to minus 4.3 points in January. The improvement was broad-based; that said, economic sentiment remains depressed, which does not bode well for economic activity in the near term.