The Consumer confidence indicator decreased in March, after increasing in January and slightly in February, registering the lowest value of the last twelve months. The evolution observed in the last month was mainly due to the negative contribution of the perspectives on the future evolution of the country’s economic situation, and to a lesser extent, the expectations on the future evolution of households’ financial situation and of major purchases by households. 

The balances of Consumer opinions on past price developments decreased in February and March, contrary to the increase recorded in the previous month, while the balance of perspectives regarding future price developments increased in the last two months, following the decrease observed in January, reaching its highest level since November 2022.

The economic climate indicator decreased in the last three months, interrupting the upward movement observed since September. The confidence indicators decreased in all sectors, in Construction and Public Works, in Services, and only slightly, in Trade and in Manufacturing Industry.

The Construction and Public Works confidence indicator decreased in March, interrupting the upward movement observed in the last five months, reflecting in March the negative contribution of perspectives on employment. In Services, all components contributed negatively to the evolution of the confidence indicator, opinions on the evolution of the order books, assessments of the firm's activity and perspectives on the evolution of demand. In Trade, the decrease in the indicator reflected only the negative contribution of expectations regarding the firm’s activity over the next three months. In Manufacturing Industry, the firm’s production perspectives over the next three months and the opinions on the evolution of the overall order books in the last three months contributed negatively to the evolution of the indicator.

The balance of entrepreneurs’ expectations regarding the future evolution of selling prices decreased in March, in Construction and in Services sectors, having increased in Trade and for the fourth consecutive month in Manufacturing Industry.