Portugal Consumer Confidence Highest Since April 2002

Portugal’s consumer confidence improved in July to reach its highest level since April 2002, after worsening in the previous month, figures from Statistics Portugal showed Thursday.

The consumer confidence indicator rose to -19.0 in July from -20 in the previous month. In May, the reading was -19.7.

The positive contributions to the consumer confidence includes perspectives of the unemployment, that of the households’ financial situation and of the country’s economic situation, the agency said.

The overall economic sentiment indicator strengthened for the fifth straight month to 1.4 in July from 1.3 in June.

The indicator measuring the financial situation of the households over the next 12 months increased to -10.0 in July from -10.4. The assessment of general economic situation in the country strengthened in July, with the corresponding index rising to -9.7 from -10.1.

In July, unemployment expectations over the next 12 months weaker than in the previous month, with the index falling to 9.4 from 12.4, and that for savings over the year remained unchanged at -47.0 from the previous month.

The construction confidence indicator rose to -38.4 from -38.6 in June, while the manufacturing industry confidence indicator fell to -3.0 from -2.7. The trade confidence index climbed to 1.9 from 1.2, while the services confidence indicator fell to 3.1 from 3.7.

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