Business confidence in Portugal stood at 2.7 in May 2026, the lowest since June 2025, unchanged from the revised reading in April. Sentiment deteriorated further among manufacturers (-3.5 vs -2.8 in April), but improved for service providers (8.3 vs 7.9), constructors (3.8 vs 2.9) and traders (3.3 vs 3.2). source: Statistics Portugal

Business Confidence in Portugal remained unchanged at 2.70 points in May. Business Confidence in Portugal averaged 1.73 points from 1989 until 2026, reaching an all time high of 5.80 points in April of 1998 and a record low of -6.40 points in June of 2020. 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 2026.

Business Confidence in Portugal remained unchanged at 2.70 points in May. Business Confidence in Portugal is expected to be 2.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Portugal Business Confidence is projected to trend around 2.20 points in 2027 and 2.00 points in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-04-29 08:30 AM
Business Confidence
Apr 2.6 2.6 2.3
2026-05-28 08:30 AM
Business Confidence
May 2.7 2.7 2.4
2026-06-29 08:30 AM
Business Confidence
Jun 2.7 2.5


Related Last Previous Unit Reference
Business Confidence 2.70 2.70 points May 2026
Capacity Utilization 83.00 83.30 percent Jun 2026
Changes in Inventories 294.76 -404.40 EUR Million Mar 2026
Industrial Production YoY 0.00 4.10 percent Apr 2026
Industrial Production MoM -2.60 4.30 percent Apr 2026
Manufacturing Production 2.80 5.20 percent Apr 2026
Mining Production 30.90 38.20 percent Apr 2026


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.
Actual Previous Highest Lowest Dates Unit Frequency
2.70 2.70 5.80 -6.40 1989 - 2026 points Monthly

News Stream
Portugal Business Climate Hovers Around 9-Month Low
Business confidence in Portugal stood at 2.7 in May 2026, the lowest since June 2025, unchanged from the revised reading in April. Sentiment deteriorated further among manufacturers (-3.5 vs -2.8 in April), but improved for service providers (8.3 vs 7.9), constructors (3.8 vs 2.9) and traders (3.3 vs 3.2).
2026-05-28
Portugal Business Confidence Steady in April
Business confidence in Portugal held steady at 2.6 in April 2026, unchanged from March and remaining near its lowest levels since mid-2025. Sentiment deteriorated among manufacturers (-2.7 vs -2.4), wholesalers (2.3 vs 2.4) and retailers (3.9 vs 4.0), while improving in construction (2.9 vs 2.6) and services (6.2 vs 5.0).
2026-04-29
Portugal Business Climate at 5-Month Low
Business confidence in Portugal fell to 2.6 in March 2026, marking a five-month low, down from 2.9 in February. Entrepreneurs’ price expectations rose across all sectors driven by tensions in non-EU markets, particularly in manufacturing, where expectations reached their highest level since October 2022. Trade confidence has declined over the past four months, reflecting weaker expectations for activity in the next three months and trade volumes. Similarly, construction confidence has fallen for a second consecutive month, weighed down by negative employment outlooks. In contrast, services sentiment and manufacturing confidence have improved over the past two months, supported by stronger business activity and positive assessments of finished goods stock and global demand.
2026-03-30