Agência para o Investimento e Comércio Externo de Portugal


The easing of the hard lockdown, which began in early March, as well as falling infection rates at the time of the survey (March 4-15) boosted consumer confidence.

Both economic and income expectations have increased, along with the propensity to buy, in some cases noticeably. As a result, GfK is forecasting a decrease of 6.2 points in consumer confidence for April 2021, up 6.5 points from March this year (revised from -12.7 points). These are the findings of the GfK Consumer Climate Study for March 2021.


This growing optimism may seem surprising at first glance. Since the survey took place during March 4 and March 15, the events surrounding the AstraZenica vaccine and the significant increase in the number of infections in the last few days have not been taken into account.


Instead, the survey period was characterized by the initial easing of the hard lockdown and stable or even slightly declining infection figures. A very similar development was also observed in the spring of 2020, when the hard lockdown was also relaxed.

With infection rates rising again and the lockdown will be tightened again, it is questionable whether the improvement in consumer confidence will continue.


More here.