Private consumption in Portugal slumped 11.5 percent year-on-year in August of 2020, following a downwardly revised 11.3 percent fall in the prior month, according to data published by Banco de Portugal. It was the ninth consecutive month of declines in private consumption and the sharpest on record, as economic uncertainty prompted by the global pandemic continued to weigh heavily on spending.
Personal Spending in Portugal averaged 1.70 percent from 1978 until 2020, reaching an all time high of 6.30 percent in May of 1988 and a record low of -11.50 percent in August of 2020. This page provides - Portugal Personal Consumption YoY- actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal Private Consumption YoY - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
Personal Spending in Portugal is expected to be -10.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Personal Spending in Portugal to stand at 9.10 in 12 months time. In the long-term, the Portugal Private Consumption YoY is projected to trend around 4.90 percent in 2021 and 2.50 percent in 2022, according to our econometric models.