Portugal's consumer confidence index edged up to -22.6 in July 2026 from -25.9 in June, extending its recovery from May's more than two-year low of -27.1. Although confidence remains well below its historical average, the improvement aligned with easing borrowing costs following the temporary resumption of energy exports from the Middle East.
Sentiment improved regarding both households' financial situation over the past year (-15 vs. -16.2 in June) and the country's economic situation (-53.7 vs. -55.1). Expectations also strengthened, with outlooks for household finances (-8.8 vs. -13) and for overall macroeconomic conditions (-38.9 vs. -45.6) both showing notable gains.
