Portugal: Consumer and business confidence improve slightly
March 29, 2012
The 3-month moving average of consumer confidence improved slightly from minus 55.8 points in February to minus 54.5 points in March. Despite the improvement, the reading remains barely above the historic low recorded in January. According to the statistical institute, the improvement in consumer confidence was driven by better prospects regarding the evolution of the country's economic situation as well as households' financial situation. Meanwhile, the 3-month moving average of business confidence improved from minus 24.5 points in February to minus 22.9 points in March. In addition, the 3-month moving average of the economic climate index broke the downward trend in place since October 2010, inching up from a historic-low minus 4.9 points in February to minus 4.7 points in March.