The Consumer confidence indicator decreased between December and March, strongly in the last month, interrupting the upward path started in April and reaching the minimum value since December 2016. Without considering three month moving averages, the results obtained for the month of March reveal a significant reduction in this indicator compared to the previous month, which is the highest monthly reduction since September 2012.
The economic climate indicator decreased significantly in March, after stabilizing in the previous month, receding to a value similar to those observed in end 2016. This reduction registered a similar magnitude to that observed in April 2011. In the last two months, the confidence indicators decreased in Manufacturing Industry, in Trade and in Services, while in Construction and Public Works registered an increase. Without considering three month moving averages, all confidence indicators decreased compared to February.
Although the information in this press release for March reflects to some extent the current situation due to the pandemic Covid19 (see note in page 5), it is expected that the trends analyzed here, based on three-month moving averages, will change substantially in the next disseminations.
Despite the circumstances, Statistics Portugal will try to maintain the statistical production and release calendar, although some adjustments might occur associated with the impact of the pandemic in obtaining primary information. For this reason, Statistics Portugal asks for the best collaboration by firms, households and public entities in answering to Statistics Portugal‘s requests to obtain information, using Internet and telephone as alternative channels to face-to-face contacts. In fact, the quality of official statistics, particularly its ability to identify the impacts of the Covid19 pandemic, depends crucially on this collaboration that Statistics Portugal is grateful for in advance.