Portugal Consumer Confidence Weakens Again

The consumer confidence indicator in Portugal fell further to -14 in November of 2024, the lowest in three months, from -13.9 in October, reflecting growing pessimism about the country’s economic outlook for the next 12 months (-16.8 vs -15.4 in October).

Unemployment is expected to rise (24.3 vs 22.7), and savings are anticipated to decline (-23.6 vs -23.2), further contributing to concerns.

As a result, the likelihood of significant purchases by households remained low (-28.5 vs -28.7), and the balance of expectations regarding households' future financial situation decreased to 0, following mild increases in the previous two months.