The Portuguese consumer confidence indicator decreased further to -2.2 in December of 2018 from -1.8 in the previous month. It is the lowest level of confidence since March 2017, as expectations over the next 12 months deteriorated for the household financial position (3.9 from 4.2 in November), savings capacity (-19.5 from -19.4) and the country's economic situation (1.5 from 2.8). Meanwhile, worries about unemployment decreased slightly (-5.4 from -5.3). Consumer Confidence in Portugal averaged -22.20 Index Points from 1997 until 2018, reaching an all time high of 3.30 Index Points in May of 2018 and a record low of -53.30 Index Points in December of 2012.
Consumer Confidence in Portugal is expected to be -2.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in Portugal to stand at -0.80 in 12 months time. In the long-term, the Portugal Consumer Confidence is projected to trend around -2.00 Index Points in 2020, according to our econometric models.