Consumer confidence indicator sinks as autumn approaches
The decline results from the "significantly negative contribution of the perspectives on future evolution of the country’s economic situation," INE points out.
Portugal’s consumer confidence indicator declined in October and November, “significantly in the last month”, says Statistics Portugal (INE) this Monday.
In a press release, INE explains that last month’s evolution was mainly the result of the “significantly negative contribution of the perspectives on future evolution of the country’s economic situation, and, to a lesser extent, of the expectations regarding households’ future financial situation”.
“Opinions on the evolution of households’ past financial situation, as well as expectations about the evolution of households’ spending on major purchases in the future also contributed negatively, although very slightly,” explained Statistics Portugal (INE).
The economic climate indicator, which had been showing irregular behaviour since July, ended up decreasing in November.
Confidence indicators fell in the construction and public works – due to a balance of opinions on current order books and perspectives on employment – and also in trade, explained by the volume of sales and the perspectives of the firm’s activity over the next three months.
On the opposite direction, this indicator rose in the manufacturing industry, “reversing the decrease observed in the previous month”, and in services, “extending the increase recorded in the previous month”.
