Portugal Consumers Less Pessimistic In May

(RTTNews) - Portugal's consumer confidence improved in May, though it remained negative, survey data from Statistics Portugal showed on Tuesday.

The consumer confidence index rose to -16.0 in May from -20.6 in the previous month, which was the lowest value since March 2024.

The recent improvement was driven by the positive contribution of the expectations on the future evolution of the country's economic situation, with opinions on the past evolution and perspectives on the future evolution of households' financial situation also contributing positively, the survey said.

The overall economic climate indicator climbed to 2.5 in May from 2.2 in April. Among components, the morale strengthened in services, the manufacturing industry, and construction and public works, while trade confidence weakened.