The economic climate indicator in Portugal came in at 2.3 in August 2019, unchanged from the previous month. Confidence increased among manufacturers (-3.2 from -3.7 in July) and constructors (-12.2 from -12.8) but deteriorated among wholesalers & retailers (2.5 from 3.1) and service providers (11.3 from 13.4). Business Confidence in Portugal averaged 1.69 Index Points from 1989 until 2019, reaching an all time high of 5.10 Index Points in March of 1989 and a record low of -4 Index Points in November of 2012.
Business Confidence in Portugal is expected to be 2.50 Index 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 1.40 in 12 months time. In the long-term, the Portugal Business Confidence is projected to trend around 1.00 Index Points in 2020, according to our econometric models.