Portugal Consumer Confidence Deteriorates for 2nd Month

The consumer confidence index in Portugal inched lower for a second month to -15.3 in February of 2026 from -14.7 in the previous month, reflecting the largest magnitude of pessimism since October of the previous year. Expectations on the country's economic situation over the upcoming year deteriorated (-24 vs -22.5 in January), although the gauge measuring expectations on household's financial situation pointed to a softer amount of pessimism (-1.7 vs -1.9). In the meantime, Portuguese households indicated higher inflation expectations (37.7 vs 33.2).

The consumer confidence index in Portugal inched lower in January of 2026 to -14.7 from the one-year high of -14.5 in the previous month, marking the first deterioration in pessimism since September of the previous year. Consumers noted a higher uncertainty on their financial balances (-23.2 vs -23 in December 2025), denting consumers' expectations on their financial situation in the upcoming year (-1.9 vs -1.5). Additionally, pessimism increased for expectations on the country's economic situation in the upcoming year (-22.5 vs -21.6).

The consumer confidence index in Portugal rose to -14.5 in December of 2025 from -15.2 in the previous month, reflecting the softest magnitude of pessimism in one year. Households noted that their perception of the overall economy improved (-32.3 vs -36.4 in November) over the last year, lifting the current evaluation of their current financial balance (17.3 vs 17.1) and the current appetite to make large purchases (-49 vs -50.4). Looking ahead, expectations for households' financial situation remained at a slightly pessimistic measure (at -1.5), and expectations on Portugal's overall economy improved (-21.6 vs -22.6).