FX.co ★ Portugal Business Climate Hits 2019-Highs

Business confidence in Portugal experienced a slight increase in November 2025, reaching a level of 3, the highest since May 2019, up from 2.9. This uptick in sentiment was primarily observed among traders, rising from 3.1 to 4.9, with notable boosts for retailers, who saw an increase from 4.3 to 5.8, and wholesalers, climbing from 2 to 4.3. These improvements likely mirror expectations of robust sales during Black Friday and the holiday discount season. Additionally, confidence grew among constructors, rising to 2.5 from 2.4, and manufacturers, who improved to -2.6 from -3.7. Conversely, service providers showed a decline in optimism, moving from 10.7 to 7.8.