FX.co ★ Portugal Business Confidence Falls for 2nd Month

Business confidence in Portugal declined for the second consecutive month in October 2026, slipping to 2.6 from 2.8 in September, its lowest level since May 2025. The downturn was driven primarily by the services sector, where confidence fell to 7.5 from 8.8, reflecting a weaker outlook for demand, more negative assessments of current company activity, and less favorable views on order books. Sentiment also softened in construction (4.0 vs. 4.5) and retail (1.6 vs. 1.7), while remaining subdued in manufacturing (-4.1 vs. -4.3). Looking ahead to 2027, most firms in manufacturing (61.9%) and services (73.3%) expect investment to remain broadly unchanged compared with 2026.