Consumers’ confidence recovers with deconfinement
Consumer confidence recorded the largest increase in the series, after showing in April the largest reduction from the previous month and the lowest value since May 2013.
With the beginning of the deconfinement, consumers regained confidence. In May, the consumer confidence indicator recorded the biggest increase in the series, after showing in April the biggest reduction from the previous month and the lowest value since May 2013, reveals this Thursday the National Statistics Institute (INE). Nevertheless, the index continues on negative territory (-32.1 in May against -41.6 in April).
“In May, the consumer confidence indicator recovered partially, registering the highest increase in the series, after recording in April the greatest reduction compared to the previous month and the minimum value since May 2013,” the statistics office explains.
“The increase of the Consumer confidence indicator in May resulted from the improvements in the perspectives regarding the evolution of the country’s economic situation, the household’s financial situation and the perspectives regarding the major purchases, after the historical decreases of the previous month,” explains INE, adding that, “Conversely, opinions regarding the past evolution of the household’s financial situation contributed negatively to the evolution of the indicator.”
The consumer survey was conducted between May 3 and 15, dates that mark the start of the deconfinement period in Portugal, whose first phase started on May 4 and lasted until 17. The INE admits that “this may have contributed to the change in sentiment that occurred in some surveys”. “Considering this exceptional period, the analysis in this press release is exclusively based on actual monthly values (raw or seasonally adjusted data),” it clarifies.
