Portugal: Consumer confidence improves in February
February 27, 2013
The February consumer confidence index improved to minus 52.8 points from minus 57.8 points in January. At the current level, consumer sentiment is 1.6 points above the level observed in the same month last year. Consumers were notably less pessimistic about the national outlook in the next 12 months. In addition, a lower number of respondents expected a higher unemployment rate. FocusEconomics Consensus Forecast panellists expect private consumption to contract 2.9% in 2013, which is up 0.1 percentage points from last month's estimate. For 2014, the panel anticipates private consumption to contract 0.4%.
Simultaneously, the economic climate indicator inched up from minus 4.3 points in January to minus 4.2 points in February. The improvement was broad-based; that said, despite the small rise, economic sentiment remains depressed, which does not bode well for economic activity in the near term. FocusEconomics Consensus Forecast panellists expect fixed investment to contract 7.4% in 2013, which is up 0.2 percentage points from last month's estimate. For 2014, the panel sees investment falling 1.4%.