According to ECO, the institute also highlights the “significant” rise in the balance of expectations regarding the future evolution of the country’s economic situation in the last month, “reaching the highest value since February 2022”.

The positive evolution is due to the “positive contribution of the prospects for the future evolution of the country's economic situation and the financial situation of the household”.

With regard to the balance of perspectives relating to the evolution of the household's financial situation, there was a further increase, in line with the last four months. By contrast, September and October 2022 were the two months where the lowest values were recorded since the beginning of the pandemic.

The Portuguese institute also clarified that there was also an increase in the economic climate in the first two months of the year, with confidence indicators increasing in Manufacturing Industry and Commerce and Services, and decreasing in Construction and Public Works.