Consumer confidence rises and economic climate stabilizes

  • ECO News
  • 30 October 2017

Consumer confidence indicator increased in October after suffering a setback in the previous two months, and is now back to levels close to the maximum amount reached in July.

After two consecutive falls, consumer confidence increased in October. As for the economic climate, it stabilized in September and October, according to Statistics Portugal (INE).

Statistics Portugal data disclosed this Monday stated the consumer confidence indicator recovered this month, “approaching a level close to the maximum of the series observed in July”. This evolution considers the positive contribution of the expectations about the evolution of savings, the evolution of families’ financial situation and of Portugal’s economic situation, while perspectives on the evolution of unemployment contributed negatively.

As for the economic climate, it remained stable in September and October, after a plunge in August. Confidence retrieved in Construction and Public Works and in Services, it increased in Manufacturing Industry and stabilized in Trade.

According to INE, the Manufacturing Industry recovered in that period, contradicting the decrease in the two previous months. On the contrary, the indicator fell in October in Construction and Public Works, after achieving in September its peak since July of 2002. INE also states that Services fell in October, “interrupting the positive path observed since the end of 2012”.