The economic climate indicator rose in May to the highest level since the same month in 2008, maintaining the upward trend started in January 2013, revealed Thursday the National Statistics Institute (INE). The evolution of the indicator (which is in 1.1 points, compared with 0.1 points in May of 2014) reflects the increase in confidence among companies in the manufacturing, construction and public works, trade and services.
According to INE, the confidence indicator in manufacturing increased in May due to the positive contribution of the assessments on demand, reaching the highest level since April 2008. The trust between the construction companies also recovered in May, thanks to the evolution of views on the order book (although the balance of employment expectations declined).
In trade, the confidence indicator reached the highest value since August 2011, driven by prospects of undertakings in the evolution of the activity. Similar to developments in the services sector, where the confidence indicator rose to June 2008 highs.
However, the consumer confidence indicator declined in April and May, putting a brake on ” sharp upward movement observed since the beginning of 2013, “the INE. Consumers are less pessimistic about the economic situation of the country and as unemployment in the next 12 months and more optimistic about the financial situation of their households, however, the prospects of families regarding the evolution of savings continue to be negative and to weigh the confidence indicator.
stable economic sentiment in the euro area
economic sentiment indicator (ISE) remained virtually unchanged in May both in the eurozone and in European Union (EU), according to data released today by the European Commission.
In April this indicator was stable. Thus, in May, the ISE was 103.8 points in the euro zone and 106.4 total of 28 EU countries.
In Portugal, after two consecutive months of increase, the indicator down of 106 points in April to 103.6 in May. The only improvement was seen in the industry and among consumers, having worsened confidence in the services, retail trade and construction.
As for the aggregate data of the 19 countries that share the single currency, the ESI still showed improvements in services, retail trade and construction, which was minimized by the fall in consumer confidence, which declined for the second negative month.
Among the largest economies in the euro zone, especially the progress indicator in the Netherlands (0.9), France (0.7) and Germany (0.5) and the fall in Italy (-0.4). The business climate indicator for the euro area, which in May fell slightly, 0.05 points to 0.28 was also released today. For this indicator there are no data broken down by Member State.
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