Portugal: Economic sentiment hits highest reading since April 2023 in July
Economic sentiment rose to 101.4 in July from June’s 101.0. July’s result marked the strongest sentiment since April 2023. As a result, the index remained above the long-term average of 100, pointing to a positive near-term outlook for the economy.
The headline print reflected stronger confidence in the services sector. Moreover, consumer sentiment rose in the surveyed month. Less positively, sentiment in the industrial and construction sectors deteriorated, and confidence in the retail sector waned.
Relating to indicators that are not used to calculate the index, employment expectations improved, while the economic uncertainty index decreased in July.