Portugal: Economic sentiment picks up in January
Economic sentiment rose to 97.5 in January from December’s 96.3. Despite the uptick, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.
The headline print reflected improved sentiment in the industrial and services sectors as well as among consumers. Meanwhile, sentiment in the construction and retail sectors softened in the surveyed month, capping the overall improvement.
Referring to indicators that are not used to calculate the index, employment expectations were healthier, while the economic uncertainty index rose in January.