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Portugal Economic Sentiment September 2023

Portugal: Economic sentiment falls to over two-year low in September

Economic sentiment came in at 95.8 in September, down from August’s 96.8. September’s result marked the worst performance since February 2021. As a result, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.

The headline print reflected healthier sentiment in the industrial sector and healthier sentiment in the construction sector. Moreover, confidence in the services sector cooled in September, while sentiment in the retail sector waned in the surveyed month. Finally, consumer confidence softened in September.

Relating to indicators that are not used to calculate the index, employment expectations weakened, while the economic uncertainty index fell in September.

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