The consumer confidence indicator fell in March for the fifth consecutive month and the economic climate indicator went up slightly according to the National Statistics Institute.
Portugal’s consumer confidence indicator fell in March for a fifth consecutive month, while the economic climate indicator rose slightly, the National Statistics Institute (INE) announced on Thursday.
“The Consumer confidence indicator decreased between November and March, resuming the descendent path initiated in June,” the INE said in a statement. “The economic climate indicator increased in February and March, only slightly in the last month, after declining between November and January.”
According to the Institute, the drop in the consumer confidence indicator from -7.2 points in January to -8.3 in February and -9.5 points in March “reflected the negative contribution of all components, production perspectives and opinions on global demand and on the evolution of stocks of finished products.” According to the INE, in March confidence indicators for all sectors fell: manufacturing, construction and public works, trade and services
In particular, confidence in construction and public works fell in March, after it in February was at its highest level since March 2002, as a result of the “negative contribution of both components, opinions on the order books and employment perspectives, more significant in the latter case.”
The economic climate indicator, meanwhile, rose from 2.1 points in January to 2.2 in February and then 2.3 in March, having previously fallen for three consecutive months.