The Portuguese consumer confidence indicator edged up to -9.0 in May 2019 from -9.3 in the previous month, amid improvements in households' expectations over the next 12 months regarding their financial situation (1.9 from 1.8 in April), propensity to make major purchases (-29.4 from -30.4) and saving intentions (-18.8 from -19.7). Meantime, worries about unemployment (-1.6 from -0.7) and inflation (11.3 from 11.9) decreased. In contrast, consumers are slightly more concerned about the country’s economic situation (-5.1 from -5.0). Consumer Confidence in Portugal averaged -17.84 Index Points from 1997 until 2019, reaching an all time high of -0.80 Index Points in November of 1997 and a record low of -46.80 Index Points in December of 2012.
Consumer Confidence in Portugal is expected to be -16.20 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in Portugal to stand at -8.00 in 12 months time. In the long-term, the Portugal Consumer Confidence is projected to trend around -6.60 Index Points in 2020, according to our econometric models.