The indicator for the economic climate, meanwhile, was down “slightly” in October to 1.3 points, but remained close to the levels recorded in the two previous months (1.4 points in September and 1.3 points in August).
According to the INE, the increased consumer confidence (as calculated in surveys on individuals) is due to the “positive contribution of all the components, outlook for the development of the country’s economic situation, the financial situation of households, savings and unemployment.”
In related news, sales in the Portuguese retail sector rose 3.1 percent year on year in September, an increase on the August growth rate of 2.9 percent, based on the good performance of foodstuffs, the National Statistics Institute (INE) announced.
Food product sales increased by 4.8 percent year on year in September (3.7 percent in August), while non-food products rose by 1.9 percent (2.3 percent in August).
In the third quarter of 2016, the retail sales index rose 3.3 percent, compared to 2.2 percent in the previous quarter, while the quarterly change for foodstuffs was 5.2 percent (3.5 percent in the second quarter) and the non-food products rose 2.0 percent in the quarter (1.3 percent in the previous quarter).
The indexes for employment, remuneration and number of hours worked, adjusted for the effects of the calendar, turned in annualised increases of 2.7 percent, 4.5 percent and 2.6 percent respectively in September, compared to 2.7 percent, 5.6 percent and 4.2 percent in August, the report concluded.