Portugal: Leading indicators send mixed signals in April
April 28, 2016
According to the April survey of consumer sentiment elaborated by the National Statistical Institute, the consumer confidence index edged down to minus 12.1 points from minus 11.7 points in March. According to the Institute, the mild drop in April reflected households’ less optimistic opinions regarding their own financial expectations for the next 12 months. Conversely, consumers’ assessment regarding the state of the economy in the next 12 months improved over the previous month.
Meanwhile, the Institute’s economic climate indicator, which reflects economic sentiment in Portugal’s main industrial sectors, rose from 1.1 points in March to 1.3 points in April. The improvement pushed the indicator to its highest level since September 2015 and mainly reflected improving economic sentiment in trade as well as in services. Confidence among firms in the construction sector was unchanged over the previous month, while sentiment in the manufacturing sector declined for second consecutive month.
Author: Ricardo Aceves, Senior Economist