Portugal Business Climate Edges Down in January

2026-01-29 10:25 By Agna Gabriel 1 min. read

Business confidence in Portugal fell to 3 in January 2026 from 3.1 in December, ending two months of improvement as sentiment weakened across most sectors.

The economic climate indicator declined after rising in the prior two months, reflecting lower confidence in trade, manufacturing and services.

Trade confidence fell for a second month, driven by weaker views on sales volumes and activity expectations for the next three months.

Manufacturing confidence also declined, reflecting negative assessments of global demand and near term production prospects.

Services sentiment weakened in January due to poorer demand expectations, softer assessments of current activity and weaker order books.

By contrast, confidence in construction and public works improved after a prior decline, supported by a strong positive contribution from employment expectations.

Entrepreneurs’ price expectations eased in trade and services, while rising in manufacturing and construction.



News Stream
Portugal Business Climate Edges Down in January
Business confidence in Portugal fell to 3 in January 2026 from 3.1 in December, ending two months of improvement as sentiment weakened across most sectors. The economic climate indicator declined after rising in the prior two months, reflecting lower confidence in trade, manufacturing and services. Trade confidence fell for a second month, driven by weaker views on sales volumes and activity expectations for the next three months. Manufacturing confidence also declined, reflecting negative assessments of global demand and near term production prospects. Services sentiment weakened in January due to poorer demand expectations, softer assessments of current activity and weaker order books. By contrast, confidence in construction and public works improved after a prior decline, supported by a strong positive contribution from employment expectations. Entrepreneurs’ price expectations eased in trade and services, while rising in manufacturing and construction.
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