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Financial News: Portugal Consumers Less Pessimistic In April

Portugal Consumers Less Pessimistic In April

04/27/2023 - 10:48:00 (RTTNews)

(RTTNews) - Portugal's consumer confidence improved to the highest level in nearly a year in April, though it still remained negative, survey data from Statistics Portugal showed on Thursday.

The consumer confidence indicator increased to -30.2 in April from -32.3 in March. Further, this was the highest score since May last year.

The improvement in April was primarily due to households' expectations about the general economic situation in the next twelve months. The corresponding index rose to -38.0 from -45.1.

Households' views on their own financial situation in the next twelve months rose to -16.8 from -19.2.

Data also showed that the economic climate indicator improved further to 2.5 in April from 2.3 in the preceding month.

The index reflecting the morale in the service sector rose notably to 20.1 from 13.0, and the confidence measure in the construction sector turned to positive in April, rising from -3.6 in March to 0.4.

Meanwhile, the manufacturing confidence index worsened to -5.3 in April from -1.9 a month ago, and the trade sector morale slid to 4.8 from 5.4.

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