Consumer confidence at 15-mth high; economic climate index down

  • Lusa
  • 30 May 2023

As for the economic climate indicator, confidence indicators decreased in all surveyed sectors, Manufacturing Industry, Construction and Public Works, Trade and Services", says INE.

Portugal’s consumer confidence indicator in May climbed to its highest level since February 2022, while the economic climate indicator fell for the first time this year, said the National Statistics Institute (INE) in a statement released on Tuesday.

According to the results of the INE’s Business and Consumer Surveys, the “Consumer confidence increased between December and March in May, reaching the highest value since February of 202, after registering in November the lowest value since April 2020 when the pandemic” began.

As for the economic climate indicator, it “decreased in May, after having increased between January and April. Confidence indicators decreased in all surveyed sectors, Manufacturing Industry, Construction and Public Works, Trade and Services,” the release states.

According to the English version of the text, “entrepreneurs’ expectations regarding the future evolution of selling prices decreased significantly between November and May in the Manufacturing Industry, reaching the lowest level since May 2020.

“This balance also decreased since November in Commerce, significantly in May, reaching the lowest level since April 2021,” it continues. “In Construction and Public Works and Services, after moderate reductions between February and April, the respective balances decreased significantly in May, standing at the lowest levels since April and October 2021, respectively.”