Portugal’s consumer confidence rose for a second straight month to reach its highest level in more than 12 years in October as retail sales growth strengthened, figures from Statistics Portugal showed Thursday.
The consumer confidence index climbed to -24 from -24.6 in September. It was the highest score since May 2002, the agency said in a statement.
The improvement in consumer morale in the last two months was mainly driven by improved optimism regarding the outlook for the household’s financial situation and the country’s economic situation and, to a lesser extent, savings possibilities. Meanwhile, the unemployment perspectives contributed negatively.
The economic sentiment index held steady for the second straight month at 0.7, its highest level since July 2008. The measure has been rising since January. Confidence improved in manufacturing, construction and services sectors.
Separately, the statistical office announced that retail sales rose annually for a third straight month in September. Sales grew 2 percent annually, the fastest since the start of the year, following 1.5 percent rise in August. However, sales fell 2.5 percent from August, when they grew 2.4 percent.
The agency also reported that industrial production declined 1.3 percent annually in September, the first fall since March. In August, production grew 2 percent. Factory output declined 2 percent, following 3.6 percent growth in August.
Month-on-month, industrial production decreased for second straight month in September, down 2.6 percent. Manufacturing output declined 2 percent.
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