Portuguese economic sentiment stabilized in July after a modest improvement in June, the latest report from Statistics Portugal showed Monday.
The economic sentiment index remained unchanged at -4.4 during the month. Confidence fell for a third month in the manufacturing industry, with the index falling to -20.3 in July from -19.9 in the previous month.
"The behavior observed in July was due to the negative contribution of all components, opinions on global demand and on the stock of finished goods' evolution and production perspectives, more significant in the last case," the statistical office said.
Sentiment worsened in services and construction, while there was some improvement on confidence among retailers.
Consumer confidence improved in July with the relevant indicator rising to -50.4 in July from -51.5 in June. Household sentiment has been rising steadily since February this year.
The increase in July resulted from the positive contribution of all components, mainly consumers' perspectives on the households' financial situation.
by RTT Staff Writer
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