Portugal Consumer Confidence Improves

Portugal's consumer confidence index inched higher to -22.6 in July of 2026 from -25.9 in the previous month, extending the rebound from the over-two-year low of 27.1 in May. Despite remaining well below historical averages, the result was consistent with easing borrowing costs after the momentary resumption of energy exports from the Middle East. Improvements were noted in households' financial situation (-15 vs -16.2 in June) and the country's economic situation (-53.7 vs -55.1) over the last year. Future expectations also improved, with expectations on household financial situation (-8.8 vs -13) and macroeconomic conditions (-38.9 vs -45.6).

Portugal's consumer confidence index rose to -25.9 in June 2026 from -27.1 in May, marking the first improvement in sentiment since December 2025. Over the past year, consumer sentiment weakened, with households' financial outlook deteriorating to -16.2 from -15.5 and perceptions of the country's economic situation declining to -55.1 from -50.7. Current price concerns increased to 67.0 from 63.2, while assessments of households' financial situation eased to 15 from 16. Looking ahead, confidence improved, with expectations for the country's economic situation rising to -45.6 from -48.5, households' financial outlook improving to -13.0 from -14.0, and price concerns falling to 59.1 from 66.4.

The consumer confidence index in Portugal fell to -27.1 in May 2026, down from -23.9 in April, marking the lowest level since January 2024. The deterioration in sentiment was broad-based regarding the last 12 months, the index measuring the increase in prices rose to 63.2 from 57.2 last month, while household sentiment weakened to -15.5 from -12.7 and views on the country’s economic situation declined to -50.7 from -43.8. Looking ahead, expectations for countrie’s economy also deteriorated to -48.5 from -42.2, amid rising concerns over prices (66.4 vs 61.1) and unemployment (27.7 vs 25.3). In contrast, uncertainty regarding future household financial conditions improved slightly to -18.1 from -20.8.