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Portugal economic outlook at 7-year high in June
Release time:2015-06-30
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Portugal’s economic climate index continued to increase and recorded in June the best result since May 2008, official data from Statistics Portugal showed on Monday. But consumer confidence continued to decrease in June.

The economic climate index is based on surveys of representatives from the manufacturing sector, as well as the trade; construction and public works; and services sectors.

Portugal’s economic climate indicator has been increasing since January, when it stood at 0.3. It reached 1.3 in June.

According to a Statistics Portugal statement, “the positive contribution of the opinions on global demand and the production perspectives,” contributed to a month-on-month increase in the confidence index in June.

The index registered a positive trend in the services sector during June, while stabilising in the trade sector. But confidence in the construction and public works sector decreased slightly in June, “following the negative” prospects for the jobs market, the statistics bureau explained.

Consumer confidence fell in June, according to the index, maintaining a “slightly negative trajectory”. It was mainly due to negative “perspectives on the evolution of savings”, but also to households’ “financial situation and the country’s economic situation”, according to Statistics Portugal’s statement.