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Portugal: Consumer confidence and economic climate improve in February

Staff Writer | March 1, 2017
The survey of consumer sentiment produced by the National Statistical Institute (INE) showed that consumer confidence rose from minus 4.6 in January to minus 4.0 in February, a multi-year high.
Lisbon street
Europe   The survey of consumer sentiment
February’s uptick was driven by improvements in consumers’ perceptions of their financial situation, the general economic situation in the country, unemployment and savings over the next 12 months.

The Institute’s overall economic climate indicator ticked up from 1.2 points in January to 1.3 points in February.

February’s improvement was underpinned by increases across the board, with the most significant gain seen in the services sector.

FocusEconomics Consensus Forecast panelists expect GDP to expand 1.5% in 2017, which is up 0.1 percentage points from last month’s projection.

For 2018, the panel also foresees the economy growing 1.4%.