The Portuguese economic climate indicator edged up to 2.3 in March of 2019 from 2.2 in the previous month. However, the general sentiment worsened among service providers (14.4 from 16 in February); traders (3.7 from 3.9), namely wholesalers (5 from 5.3) and retailers (2.5 from 2.6); constructors and public works (-9.5 from -7.8); and manufacturers (-2.3 from -1.3). Business Confidence in Portugal averaged 1.67 Index Points from 1989 until 2019, reaching an all time high of 5.30 Index Points in March of 1989 and a record low of -3.90 Index Points in December of 2012.
Business Confidence in Portugal is expected to be 1.90 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 1.50 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.