SYNTHESIS INE@COVID-19, 5 Feb-2021

February . 05 . 2021 SYNTH SIS IN @ COVID-19 www.ine.pt page 6/20 Communication Unit | tel: +351 21 842 61 10 | sci@ine.pt The consumer confidence indicator increases and the Economic climate indicator decreases In January 2021: • The consumer confidence indicator increased less sharply than the previous month, contrary to the decline seen in November; • The economic climate indicator declined, in contrast to the increase observed in December and interrupting the recovery profile observed between May and October. Economic Climate Indicator The confidence indicators performed as follows: • The Consumer Confidence indicator increased in January, albeit less than the previous month, countering the decline seen in November. The outcome in January was due to the positive contribution of the perspectives regarding the future evolution of the country’s economic situation and of the expectations on spending money on major purchases. The expectations about the household’s financial situation presented a nil contribution, while opinions regarding the past evolution of the household’s financial situation registered a negative contribution. • The manufacturing industry confidence indicator declined in January after rising in December, interrupting the recovery profile seen between June and August. The behaviour of the indicator reflected the expressive negative contributions of the firm’s production perspectives over the next three months since the opinions on the evolution of the overall order books in the last three months and the opinions on the current stock of finished products contributed positively. The indicator decreased in the groups of Consumer Goods and Intermediate Goods , while it recorded an increase in the group of Investment Goods . • The Construction and Public Works confidence indicator rose in January, as it happened in the previous month, after interrupting in November the recovery that began in May. The recovery of the indicator reflected the positive contribution of both components - the balance of opinions on current order books and perspectives on employment -, more expressive in the former case. This indicator registered a significant increase in Civil Engineering and decreased in Building Construction and Specialized Construction Activities divisions. • The Trade confidence indicator declined in January after a slight increase in December. This evolution reflected the strong negative contributions of the perspectives of the firm’s activity over the next three months and the opinions on the volume of sales, particularly in the former case, with opinions on the current volume of stocks contributing positively. In January, the confidence indicator decreased in Wholesale Trade and Retail Trade , significantly more so in the latter. • The Services confidence indicator increased in January, following the reduction seen in the previous two months, which interrupted the recovery profile started in June. The behaviour of the indicator resulted fromthe positive contribution of the opinions on the evolution of the order books; the perspectives on the evolution of the order books and the evolution of the business situation contributed negatively. In January, the confidence indicators increased in four of the eight sections, with emphasis on the sections of P rofessional, Scientific and Technical Activities and Other Service Activities . -0.9% -7.0% -6.0% -5.0% -4.0% -3.0% -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21