Portugal: Economic sentiment rises to the joint-strongest reading in nearly three years in November
Latest reading: Economic sentiment rose to 107.0 in November from October’s 105.9. November’s result marked the joint-best reading since February 2022. Consequently, the index remained above the long-term average of 100, pointing to a positive near-term outlook for the economy.
The headline print reflected stronger confidence in the services and construction sectors. Moreover, consumer sentiment improved. Less positively, sentiment in the industrial sector weakened. Meanwhile, confidence in the retail sector was unchanged from October.
Considering indicators that are not used to calculate the index, employment expectations were weaker, while the economic uncertainty index dropped in November.