Portugal: Economic sentiment worsens in January
Latest reading: Economic sentiment fell to 104.2 in January, following December’s 107.2, diverging from the EU’s improvement and weakening the country’s position as one of the bloc’s countries with the strongest levels of sentiment. Still, the latest reading was above the long-term average of 100, pointing to a continued positive near-term outlook for the economy.
In January, sentiment worsened in the industrial sector (-3.6 vs -0.8 in December), the services sector (+3.4 vs +8.0 in December) and the retail sector (+4.8 vs +6.1 in December). However, sentiment turned more upbeat in the construction sector (+3.1 vs +2.1 in December) and among consumers (-13.6 vs -15.1 in December).