Portugal: Consumer and economic sentiment improve but remain depressed
August 30, 2012
The August consumer confidence index edged up to minus 48.7 points from minus 49.6 points in July, reaching the highest level since March 2011. Despite the improvement, however, the index remains deeply mired in negative territory. At the current level, consumer sentiment is 0.4 points above the levels observed in the same month last year. Meanwhile, the economic climate indicator rose from minus 4.4 points in July to minus 4.0 points in August, the highest level recorded since November 2011. Nonetheless, despite the improvement, business sentiment is still 1.2 points below the level observed a year ago. The increase came on the back of improvements in the manufacturing and construction sectors, while trade and services remained virtually unchanged.