Portugal: Leading indicators continue to point upward in February
February 27, 2014
In February, the consumer confidence index rose to minus 28.7 points, which came in above the minus 32.3 points tallied in January and marked the highest level since October 2009. According to the statistical institute, the increase in consumer confidence was mainly driven by a more optimistic assessment of the country's economic situation and improving job prospects. Households' views on their financial situations also improved in February.
FocusEconomics Consensus Forecast panelists expect private consumption to expand 0.4% in 2014, which is up 0.2 percentage points from last month's estimate. For 2015, the panel expects private consumption to increase 0.8%.
The economic climate indicator also improved in February, increasing from minus 0.8 points in January to minus 0.6 points. February's print marks the highest level since November 2010. Despite the improvement seen in recent months, economic sentiment remains weak, which does not bode well for economic activity in the near term.
FocusEconomics Consensus Forecast panelists expect fixed investment to increase 0.9% in 2014, which is up 0.2 percentage points from last month's estimate. For 2015, the panel sees fixed investment expanding 2.1%.