The consumer confidence indicator stabilized in June, as revealed by the “Survey of Business and Consumer Trends” from the National Institute of Statistics (INE), following an increase in May.
This stabilization was mainly due to the positive contributions from opinions on the past evolution and future prospects of the financial situation of households.
Expectations for the country’s economic situation also contributed positively, albeit slightly, while the prospects for future purchasing activity had a negative impact.
The economic climate indicator, based on business surveys, rose for the third consecutive month, after reaching a low point in March since last August.
Confidence indicators increased in services, manufacturing, construction, and public works, but declined for the fourth consecutive month in retail.
According to the INE, the confidence indicator in services increased in June after declines in the previous three months, buoyed by positive assessments of company activity and order books. Meanwhile, projections for demand evolution stabilized.
In manufacturing, the confidence indicator “increased moderately between February and June, with positive contributions from opinions on global demand evolution and production prospects.”
In the construction and public works sector, the increases in May and June, following decreases in the previous two months, reflected the positive contribution from employment prospects.
However, in retail, opinions on sales volume and evaluations of current stock levels resulted in a negative contribution, marking the fourth consecutive decline in this sector.
The INE detailed that the balance of business expectations regarding future sales price developments decreased across all sectors in June.
