SYNTHESIS INE@COVID-19, 8 Oct -2020

October . 08 . 2020 SYNTH SIS IN @ COVID-19 www.ine.pt page 3/14 Communication Unit | tel: +351 21 842 61 10 | sci@ine.pt In September, the consumer confidence indicator decreases and the economic climate indicator slightly increases The consumer confidence indicator decreased in September, after the partial recovery observed in May and June, but still standing significantly below pre-pandemic levels. The economic climate indicator increased between May and September, after reaching the series minimum value in April. -0.1 -6 -5 -4 -3 -2 -1 0 1 2 3 Sep-20 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 BER Economic Climate Indicator In September, the confidence indicators showed the following evolutions: • The Manufacturing Industry Confidence Indicator decreased in September, interrupting the recovery profile observed between June and August, after reaching the series’ historic minimum that followed the abrupt reduction in April. This record had the negative contribution of the company’s production perspectives, while theopinions on theglobal demand in the last threemonths and on current stock of finished products presented positive contribution; • The Construction and Public Works confidence indicator recovered between May and September, after registering in April the sharpest decrease in the series, reaching the minimum value since November 2015. The recovery in the last four months reflected the positive contribution of both the balance of opinions on order books and the perspectives on employment; • The Trade confidence indicator decreased slightly, interrupting the upward profile observed between May and August, after the significant decrease registered in April when it reached the minimum value of the series. This outcome reflected the negative contributions of opinions on the volume of stocks and the perspectives on business activity over the next three months, while the opinions on the volume of sales contributed positively; • The Services confidence indicator increased between June and September, after declining between February and May, when it reached the historical minimum value of the series. The behaviour of the indicator in September resulted from the positive contribution of all components, opinions on the evolution of the business situation, opinions on the evolution of the order book and perspectives on the evolution of the order books, with the latter component recovering almost all the accumulated reductions occurred in March and April. BER – Balance of extreme responses