Consumer confidence and economic climate partially recover in May

Consumer confidence and economic climate indicators “partially recovered” in May in Portugal, after having recorded “strong reductions in April” due to the covid-19 pandemic, the National Statistics Institute (INE) reported

“In May, the consumer confidence indicator partially recovered, registering the greatest increase in the series, after having presented in April the greatest reduction compared to the previous month and the minimum value since May 2013. The economic climate indicator showed a slight increase in May after reaching the minimum value of the series in the previous month”, point out the“ Statistics for Businesses and Consumers ”of INE.

In the month under review, confidence indicators increased “moderately” in construction and public works and commerce and decreased again in the manufacturing industry and services, “prolonging the sharp drops recorded in April and reaching new lows”.

In terms of services, INE highlights the sections of accommodation, restaurants and the like and of artistic, entertainment, sports and recreational activities, which presented the lowest values ??of the respective confidence indicators.