Portugal: Economic sentiment rises to over two-year high in October
Latest reading: Economic sentiment rose to 105.9 in October from September’s 104.2. October’s result marked the best reading since June 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 surging confidence in the services sector, rebounding confidence in the construction sector, and rising confidence in the retail sector. That said, sentiment in the industrial sector and among consumers deteriorated in October.
Considering indicators that are not used to calculate the index, employment expectations were healthier, while the economic uncertainty index rose in October.