Portugal Consumer Confidence Edges Lower

Portugal's consumer confidence index edged down to -20.6 in September 2026 from -20.5 in August, the first decline after three consecutive monthly improvements. Consumers were slightly more pessimistic about households' financial situation (-13.8 vs -13.6 in August) and the country's economic situation (-52.6 vs -51.7) over the last year, while the balance of opinions on past price developments eased to 58.5 from 59.8. Looking ahead, expectations on the country's economic conditions softened (-35 vs -34.8) and those on households' financial situation were unchanged at -7, while price expectations increased to 46.5 from 45.4.

The consumer confidence indicator in Portugal rose to -20.5 in August of 2026 from -22.6 in the previous month, a third consecutive improvement since pessimism peaked at an over two-year low in May. The data reflected a moderation in the impact of soaring fuel prices due to the halt of petrol supply from the Middle East since the outbreak of war in Iran. Improvements were noted in the country's economic situation in the last year (-51.7 vs -53.7 in July), household's financial situation through the last year (-13.6 vs -15), and the evolution of prices (59.8 vs 63.8). Looking ahead, surveyees pointed to improvements in household's financial situation (-7 vs -8.8) and the country's economic conditions (-34.8 vs -38.9).

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).