Economic climate in Portugal "stabilised"

By TPN/Lusa, in News · 12-09-2019 09:00:00 · 0 Comments
Economic climate in Portugal "stabilised"

Consumer confidence in Portugal in August continued the rise that began in April, after decreasing in the previous five months, and the economic climate stabilised, according to a release from the National Statistics Institute (INE).

According to the INE, the rise in the consumer confidence indicator (which was at -7.6 in August, up from -8.0 in July) "resulted from the positive contribution of all the components, perspectives relative to the country's economic situation and the carrying out of mahor purchases, households’ opinions on their financial situation, and expectations about the future evolution of the household’s financial situation."

The economic climate indicator, meanwhile, was unchanged at 2.3 points in August, "after decreasing slightly in the previous month" from June, the INE said.

In August, confidence indicators in the trade and services sectors decreased, but increased in manufacturing and in construction and public works.

The overall consumer confidence indicator results from the average of responses to a set of four questions that the INE puts to a sample of households, in particular on their financial situation in the last 12 months, the outlook for this for the next 12 months, the likely general economic situation of the country in the next 12 months, and whether the household expects to spend more or less money on major purchases (furniture, appliances and other durable goods) in the next 12 months.

Each month 2,760 households are surveyed in this way, according to the INE, with the response rate in August 72.7% and the average in the last 12 months 71.9%.


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