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2026.03.3009:26:02UTC+00Portugal Business Climate at 5-Month Low

Business confidence in Portugal declined to 2.6 in March 2026, a five-month low, from 2.9 in February. Entrepreneurs’ price expectations increased across all sectors, driven by tensions in non-EU markets and particularly pronounced in manufacturing, where expectations reached their highest level since October 2022. Trade confidence has weakened for four consecutive months, reflecting more subdued expectations for activity over the next three months and lower trade volumes. Construction confidence also fell for the second month in a row, weighed down by a deteriorating employment outlook. By contrast, sentiment in services and confidence in manufacturing have both improved over the past two months, supported by stronger business activity and more favorable assessments of finished goods inventories and global demand.

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