Consumer confidence reaches a new maximum of 20 years

  • ECO News
  • 29 June 2017

The economic climate indicator also increased in the first semester of 2017 and reached its maximum since 2002.

Consumer confidence increased again in June, reaching a new historical high since the series began, in November 1997. There are also some positive signals for the economic climate, whose indicator increased in the first six months of the year and reached its maximum since June 2002.

According to data from Statistics Portugal (INE), the positive evolution of consumer confidence in June “reflected the positive contribution of the perspectives on the unemployment, on the country’s economic situation and on the evolution of the household’s financial situation, while the perspectives on savings contributed negatively“.

Confidence also grew in the manufacturing industry, constructions, public works and trade. It only decreased, although slightly, in services, after having reached in May the highest level since August 2001. In this case, the most recent data shows “the opinions on global demand and the production perspectives contributed positively, while the opinions on the evolution of stocks of finished products contributed negatively”, INE states.

In the European Union, the economic sentiment also increased. In comparison to the previous month, the indicator rose 1.9 points in the Euro Area and 1.6 points in the EU, reaching its highest levels since August 2007, states the European Commission. The indicator which measures the business climate in the Euro Area also had a favorable evolution, namely a 0.25 points growth in June.