The consumer confidence and economic climate indicators rose in May, according to data released by the National Institute of Statistics (INE) on Tuesday.
The consumer confidence indicator increased in May, following a decline in the previous two months and reaching its lowest level since March 2024 in April.
“The observed change last month was mainly due to the positive contribution of expectations regarding the future economic situation of the country, with opinions on the past evolution and expectations about the future financial situation of households also contributing positively,” noted the INE.
Furthermore, the “balance of consumer opinions on the past evolution of prices decreased in May, after a significant increase registered in April, while the balance of expectations regarding future price evolution decreased significantly last month after having risen markedly in the preceding three months.”
The economic climate indicator increased in April and May, “interrupting the downward trend observed in the previous three months. Confidence indicators rose in Services, Manufacturing Industry, and Construction and Public Works, but decreased in Commerce.”
“The Services confidence indicator increased in May, after declining in the previous three months, with significant positive contributions from all components, including opinions on the order book evolution, demand expectations, and assessments about the company’s activity,” it reads.
