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Portugal Economic Sentiment November 2023

Portugal: Economic sentiment picks up in November

Economic sentiment came in at 96.1 in November, up from October’s 94.7. Consequently, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.

The headline print reflected stronger sentiment in the industrial sector and healthier sentiment in the construction sector. In the meantime, confidence in the services sector strengthened in November, whereas sentiment in the retail sector deteriorated in the surveyed month. Finally, consumer confidence cooled in November.

Relating to indicators that are not used to calculate the index, employment expectations improved, while the economic uncertainty index rose in November.

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