The 3-month moving average of the economic climate indicator in Portugal stood at 1.8 in August of 2021, unchanged from the prior month. It remained the highest reading since March of 2020, as the nation became one of the world’s leading countries regarding vaccination coverage. Improvements were observed in most sectors, mainly services (6.9 from 2.6 in July), wholesale & retail trade (3.5 from 2.0), the construction sector (-7.8 from -8.3). On the other hand, sentiment deteriorated in manufacturing industries (-1.5 from 0.4). source: Statistics Portugal

Business Confidence in Portugal averaged 1.62 points from 1989 until 2021, reaching an all time high of 5.10 points in March of 1989 and a record low of -4.70 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 September of 2021.

Business Confidence in Portugal is expected to be 1.50 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 1.90 points in 2022 and 2.30 points in 2023, according to our econometric models.

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Portugal Business Confidence

Actual Previous Highest Lowest Dates Unit Frequency
1.80 1.80 5.10 -4.70 1989 - 2021 points Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-05-28 08:30 AM May 0.5 -0.8 0.6
2021-06-29 08:30 AM Jun 1.6 0.5 0.9
2021-07-29 08:30 AM Jul 1.8 1.6 1.8
2021-08-30 08:30 AM Aug 1.8 1.8 1.9
2021-09-29 08:30 AM Sep 1.8 1.7
2021-10-29 09:30 AM Oct
2021-11-26 09:30 AM Nov


News Stream
Portugal Business Morale Stable in August
The 3-month moving average of the economic climate indicator in Portugal stood at 1.8 in August of 2021, unchanged from the prior month. It remained the highest reading since March of 2020, as the nation became one of the world’s leading countries regarding vaccination coverage. Improvements were observed in most sectors, mainly services (6.9 from 2.6 in July), wholesale & retail trade (3.5 from 2.0), the construction sector (-7.8 from -8.3). On the other hand, sentiment deteriorated in manufacturing industries (-1.5 from 0.4).
2021-08-30
Portugal Business Morale Inches Higher in June
The 3-month moving average of the economic climate indicator in Portugal inched up to 1.8 in July of 2021, from 1.6 in the prior month. It was the highest reading since March of 2020, underpinned by the speedy vaccination campaign and softer than expected public health restrictions. Improvements were observed in confidence levels of all sectors, most significantly in services (2.6 from -2.6 in June), followed by wholesale & retail trade (2.0 from 0.6), the manufacturing industries (0.4 from -0.7), and lastly, the construction sector (-8.3 from -8.6).
2021-07-29
Portugal Business Morale at 15-Month High
The 3-month moving average of the economic climate indicator in Portugal rose to 1.6 in June of 2021, from 0.5 in the prior month. It was the highest reading since March of 2020, underpinned by the receding pandemic, easing travel restrictions, and the rollout of vaccines. Broadly, the survey’s respondents were less pessimistic in all sectors, with the most relevant improvements observed in the manufacturing industry (-0.7 from -4.7 in May), followed by retail trade (-1.5 from -6.8), services (-2.6 from -10.3), and lastly, the construction sector (-8.6 from -9.9).
2021-06-29
Portugal Business Confidence Picks Up in May
The economic climate indicator in Portugal rebounded to a 14-month high of 0.5 in May of 2021, from downwardly revised -0.8 in the prior month, as the country’s pandemic situation remained fairly under control, and with the vaccination rollout gathering pace as we approach summer. Despite broden pessimism reported by surveyed entrepreneurs, significant improvements were recorded across all sectors. The biggest were seen in services (-10.3 vs -16.8 in April) and in the manufacturing industry (-4.7 vs -9.7), but also in trade (-4.1 vs -8.6) and in construction (-9.9 vs -12.6).
2021-05-28

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.