The economic climate indicator in Portugal fell further to -3.2 in May of 2020 from -0.7 in the previous month. It was the lowest reading since April of 2013, as businesses continued to be affected by the coronavirus crisis. Confidence deteriorated among service providers (-39.6 vs -18.2 in Apil), manufacturers (-26.8 vs -15.9), retailers (-21.4 vs -10.7) and constructors (-24.3 vs -16.5).

Business Confidence in Portugal averaged 1.67 points from 1989 until 2020, reaching an all time high of 5.10 points in March of 1989 and a record low of -4 points in November of 2012. This page provides the latest reported value for - Portugal Business Confidence - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Portugal Business Confidence - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020.

Business Confidence in Portugal is expected to be -3.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Portugal to stand at -1.20 in 12 months time. In the long-term, the Portugal Business Confidence is projected to trend around 0.10 points in 2021 and 0.80 points in 2022, according to our econometric models.

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Portugal Business Confidence

Actual Previous Highest Lowest Dates Unit Frequency
-3.20 -0.70 5.10 -4.00 1989 - 2020 points Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-02-27 09:30 AM Business confidence Feb 2.2 2.2 2
2020-03-30 08:50 AM Business confidence Mar 1.8 2.2 -2
2020-04-29 08:30 AM Business Confidence Apr -0.7 1.9 -4
2020-05-28 08:30 AM Business Confidence May -3.2 -0.7 -1.2
2020-06-26 08:30 AM Business Confidence Jun -3.2 -3
2020-07-30 08:30 AM Business Confidence Jul
2020-08-28 08:30 AM Business Confidence Aug
2020-09-28 08:30 AM Business Confidence Sep -2.1


News Stream
Portugal Business Morale Lowest since 2013
The economic climate indicator in Portugal fell further to -3.2 in May of 2020 from -0.7 in the previous month. It was the lowest reading since April of 2013, as businesses continued to be affected by the coronavirus crisis. Confidence deteriorated among service providers (-39.6 vs -18.2 in Apil), manufacturers (-26.8 vs -15.9), retailers (-21.4 vs -10.7) and constructors (-24.3 vs -16.5).
2020-05-28
Portugal Business Morale Drops to Near 6-1/2-Year Low
The economic climate indicator in Portugal fell to -0.7 in April of 2020 from an upwardly revised 1.9 in the previous month, the lowest since November of 2013. Confidence deteriorated among manufacturers (-15.9 vs -6.1 in March); retailers (-10.7 vs 0.2); service providers (-18.2 vs 2.7) and constructors (-16.5 vs -6.4).
2020-04-29
Portugal Business Morale at Over 3-Year Low
The economic climate indicator in Portugal decreased to 1.8 in March 2020 from 2.2 in each of the previous two months, the lowest since November 2016. Confidence deteriorated among manufacturers (-6.1 vs -4.2 in February); retailers (0.2 vs 1.5) and service providers (2.7 vs 6.5). On the other hand, confidence improved slightly among constructors (-6.4 vs -7.5).
2020-03-30
Portuguese Business Morale Unchanged in February
The economic climate indicator in Portugal stood at 2.2 in February 2020, unchanged from the previous month. Confidence improved among retailers (2 from 1.5) and constructors (-7.5 from -9.3); while confidence fell for manufacturers (-4.2 from -3.2) and service providers (6.5 from 8.2).
2020-02-27

Portugal Business Confidence
In Portugal, the National Statistics Institute (INE) economic climate indicator on three terms moving averages is calculated in order to receive a timely composite indicator for the several sectors of economic activity. It is estimated using balances of questions from the Manufacturing Industry (1179 companies), Trade (1102 companies), Construction and Public Works (822 companies) and Services (1427 companies) surveys. The calculation is based on the factor analysis and the estimated series (the common component) is calibrated using the GDP change rates. The use of moving averages smooths out the series by removing the irregular movements, allowing the detection of the short-term trends.