Portugal’s economic climate indicator rose in March and the economic activity indicator fell in February, bringing an end to a series of rises since August, the National Statistics Institute (INE) said.

Economic climate indicator rises in March ......

According to INE, the economic climate indicator (calculated through surveys of companies from a range of sectors) rose in March to 1.6 points, after rising to 1,4 points in February. The economic activity indicator fell from 2.4 points in January to 2.2 points in February. The quantitative indicator for consumer spending also slowed in February, “reflecting a less expressive positive contribution of the current spending component.” The Gross Fixed Capital Formation (GFCF), reflecting investment, improved based on the construction and transport materials components, INE said. INE noted that the indicators of economic activity, consumer spending and GFCF are new series. INE’s confidence indicators are calculated based on three-month moving averages of the balances of survey respondents.