The Portuguese consumer confidence indicator decreased for the fifth month to -9.5 in March of 2019 from -8.3 in the previous month, reaching the lowest value since December of 2016. Expectations deteriorated for the household financial situation over the next 12 months (1.3 from 2.4 in February) and the country's economic situation (-5.2 from -2.7). Also, propensity to make major purchases in the year ahead fell (-30.5 from -29). Consumer Confidence in Portugal averaged -17.91 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 -12.40 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 -7.00 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.